The Federal Government’s Presidential CNG Initiative (PCNGi) is set to revolutionize transportation in Nigeria with the introduction of Compressed Natural Gas (CNG) buses.
Finance Minister and Coordinating Minister of the Economy, Olawale Edun, emphasised the significant impact these buses will have on reducing transportation costs and curbing inflation during a visit to the JET Motor Company Assembly Plant in Lagos.
Edun, accompanied by the Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi, personally inspected the assembly of CNG buses and test-drove them, expressing confidence in the initiative’s potential to benefit Nigerians.
He highlighted the substantial cost savings offered by CNG buses, noting that it will cost significantly less, between N12-15,000, to fill a CNG bus compared to N55,000 for a petrol-powered bus of similar capacity.
The PCNGi aims to provide affordable mass transit solutions, and Edun commended JET Motor Company for its commitment to employing local talents in the assembly of the vehicles.
The Chairman and Founder of JET, Chidi Ajaere, praised President Bola Tinubu for promoting local production of CNG vehicles and expressed confidence in the project’s success.
Also present during the visit were key figures from JET Motor Company and government officials, including the CEO, Engr Derek Ewelukwa, members of the JET team, Tosin Coker, Commercial Director of PCNGi, and Joseph Osanipin, Director-General of the National Automotive Development and Design Council.
Established in 2018, JET Motor Company aims to meet Nigeria’s transportation needs by producing Electric Vehicles (EV) vans, pickups, and CNG/Petrol buses. The company plans to transition from semi-knocked-down components to completely knocked-down components within the next three to four years, further enhancing local production capabilities.
