Tinubu Forecloses Return to Fuel Subsidy Regime, Asks States to Deliver Cheaper Transport By October 1
*Says 120,000 vehicles converted to CNG in 400 centres nationwide *Urges more govs to accelerate rollout as seven states, Abuja cut fares Deji Elumoye in Abuja President Bola Tinubu yesterday
President Bola Tinubu has ruled out the return to the petrol subsidy regime and has directed state governments to accelerate the deployment of Compressed Natural Gas (CNG) and electric mass transit systems to reduce transportation costs starting October 1. Over 120,000 vehicles have been converted to CNG across 400 certified conversion centres and 90 refuelling stations nationwide.
Seven states and Abuja have already reduced fares, and more are urged to follow suit. Tinubu emphasized that Nigeria, being rich in gas, can reduce its exposure to global energy market fluctuations. The administration has invested in building a CNG transportation ecosystem, and the National Affordable CNG Transit Programme aims to deliver measurable reductions in transportation fares.
State governments are tasked with delivering cheaper transportation by October, and the federal government will continue to support the scaling of CNG infrastructure and create an enabling environment for stakeholders in the alternative-energy transport industry.
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