Mr. Innocent Chukwuma, Founder and Chief Executive Officer of Innoson Vehicle Manufacturing, has announced that the public will soon enjoy more affordable transportation with the introduction of Compressed Natural Gas-powered buses.
Additionally, he urged Nigerians to be patient with the Bola Tinubu administration, asking them to “give him time.”
Mr Chukwuma told journalists after emerging from closed-door talks with President Bola Tinubu at the Aso Rock Presidential Villa, Abuja, on Thursday: “I’ve discussed with him (President Tinubu), and soon the masses will have plenty of CNG buses on the road,”
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The automobile entrepreneur described the Presidential CNG Initiative as “the way forward” for the country.
He explained, “The government’s initiative on CNG is the best idea for transportation in this country because CNG offers many benefits for Nigeria.
“That benefit is what I recognised before I started the factory to produce vehicles that run on CNG. I began producing CNG kits before the announcement.
“So today, everyone who tries CNG will find that it is the way forward for this nation.”
Thursday’s meeting comes in the wake of President Tinubu’s nationwide broadcast five days prior, during which he pledged to distribute “a million kits at extremely low or no cost to commercial vehicles that transport people and goods and who currently consume 80 per cent of the imported Premium Motor Spirit and Automotive Gas Oil.”
Tinubu contended that despite Nigeria’s vast oil and gas resources, the country had relied exclusively on oil-based petrol, overlooking its gas resources for economic power. He claimed that the CNG initiative could save the country N2 trillion each month.
“We were also using our hard-earned foreign exchange to pay for and subsidise its use.
“To address this, we have launched our Compressed Natural Gas Initiative to power our transportation economy and reduce costs.
“This will save over two trillion Naira a month, which is currently used to import PMS and AGO, and free up our resources for greater investment in healthcare and education,” said Tinubu.
