The first set of Compressed Natural Gas (CNG) vehicles will be launched before President Bola Tinubu’s administration first anniversary on May 29.
The Special Adviser to the President on Information and Strategy, Bayo Onanuga made this disclosure in a statement on Sunday in Abuja.
According to him, the Federal Government allocated N100 billion from the N500 billion palliative budget to purchase 5,500 CNG vehicles (buses and tricycles), 100 electric buses, and over 20,000 CNG conversion kits.
Onanuga further explained this funding also supports the expansion of CNG refilling and electric charging stations.
“In all, over 600 buses are targeted for production in the first phase that will be accomplished this year.
“The private sector has responded with over $50 million in actual investments in refuelling stations, conversion centres, and mother stations.
“A new plant on the Lagos-Ibadan Expressway will assemble thousands of tricycles. The SKD parts manufactured by the Chinese company LUOJIA in partnership with its local partner to support the consortium of local suppliers of CNG tricycles are set for shipment to Nigeria and are expected to arrive early in May. About 2,500 of the tricycles will be ready before May 29, 2024,”he added.
