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CNG buses will cut down transportation costs, curtail inflation – Finance minister

The Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, has visited the JET Motor Company Assembly Plant in Lagos, where Compressed Natural Gas, CNG, buses are being assembled under the Presidential CNG Initiative.

While disclosing this in a statement, Temitope Ajayi, the Senior Special Assistant on Media and Publicity to President Bola Tinubu, said JET, which is located in Lagos, is one of the four assembly plants picked by the PCNGi to assemble semi-knocked-down components of climate-friendly CNG and electric buses and tricycles, which will soon be rolled out to cut down transportation costs.

According to him, JET also has the capacity to convert petrol buses to CNG.

After going round the JET plant on Friday, Edun said he was satisfied with the progress of work at the assembly.

He said though the PCNGi had taken time to be actualised, the benefits would soon be available to Nigerians.

“I have come to see the CNG buses that Nigerians are asking about. I have seen them. I have tested them and driven them. I have seen them being assembled. The benefits will soon be available to Nigerians,” Edun said.

The Minister said the PCNGi is about mass transit that is affordable.

“Two critical aims will be achieved. Whereas it costs about N55,000 to fill a 15-20 seater bus with petrol, it will cost between N12,000 and N15,000 to fill a CNG bus of the same capacity. This is three times if not four times less. This is a huge saving that will help reduce transport costs and at the same time, help reduce inflation,” he said.

Edun lauded JET’s employment of local talents in the assembly of the vehicles.

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