IBADAN, NIGERIA – The Federal Government, via the Presidential CNG Initiative (P-CNGi) committee, has officially handed over 20 compressed natural gas (CNG) buses to the Oyo State government. This move is part of a broader strategy to alleviate the impact of rising transportation costs due to the recent removal of fuel subsidies.

Under President Bola Tinubu’s administration, the CNG initiative is aimed at providing economic relief to Nigerians during this challenging transition period. The handover ceremony took place at the Pacesetter Transport Service (PTS) conference room, with President Tinubu represented by Michael Oluwagbemi, CEO and Programme Director of P-CNGi.

Oluwagbemi highlighted the administration’s commitment to reducing transportation expenses by converting petrol and diesel-powered vehicles to CNG. This transition is intended to utilize Nigeria’s abundant natural gas resources, making transportation more affordable and accessible.

Oluwagbemi emphasized that the deployment of these CNG buses marks a significant step towards ensuring that the benefits of Nigeria’s natural resources are shared more equitably. He underscored the importance of leveraging natural gas to drive progress in transportation, agriculture, and industry.

Oyo State’s government, represented by Salami Dikko, Chairman and Sole Administrator of PTS, expressed appreciation for the Federal Government’s support. Dikko praised Governor Seyi Makinde for his efforts in state development, noting that the number of operational buses in Oyo State has risen from five to 81 since Makinde took office. The introduction of CNG buses is seen as a pivotal measure in addressing the challenges associated with the subsidy removal.