President Bola Tinubu on Thursday, said Nigerians will begin to benefit from cheaper transport fares from October 1, 2026
This is just as the President said both the federal and State governments have agreed to set up a joint Federal and State committee to begin implementing measures to ease cost of public transportation immediately.
These are part of the outcome of the meeting on Thursday between the President and Governors elected on the platform of the All Progressive Congress (APC), at the presidential Villa, Abuja
The meeting took place shortly after the National Economic Council NEC meeting presided over by Vice President Kashim Shettima
The President, while speaking on the outcome of the meeting, noted that “Intra-state transport is where Nigerians feel the cost most directly”, adding that ” and it is where the states hold the levers. I am encouraged that our Governors are moving to bring these benefits closer to the people they serve.”
Despite the introduction of the Compressed natural gas conversion centers, cost of public transportation has continued on the increase, rising to as high as 200 percent in some areas.
But “a vehicle running on CNG spends 60 to 80 percent less on fuel than one running on petrol,” the president said.
“From October 1, our goal is that Nigerians begin to partake in those savings through lower transport fares. We have agreed that cheaper fuel should result in cheaper fares.
” I am pleased with my discussion with the Governors’ Forum this afternoon. The Governors have, on their own initiative, resolved to take immediate measures to bring down the cost of transportation in their states, with a strong focus on leveraging the cost benefits of CNG and electric vehicles.”
He noted that the Federal Government is already investing significantly in this energy transition. Through the Presidential CNG Initiative, over 120,000 vehicles have been converted nationwide, with more than 100,000 additional conversion kits in the works.
“At the same time, we continue to expand conversion centres and refuelling infrastructure nationwide,” the president added.
The Federal government, through the Midstream and Downstream Gas Infrastructure Fund, is currently financing more than 100 gas projects across the country, including 15 CNG mother stations and 86 daughter stations.
President Tinubu recalled that he had in May, commissioned four of these projects in Lagos, Abuja and Owerri, including a 15-station refuelling network in Lagos and an Abuja facility that can serve 1,000 cars and tricycles and 50 trucks and buses a day.
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“I have also directed the additional rollout of another 500 CNG refuelling stations nationwide in addition to the 500 stations ordered earlier in the year by the Fund, bringing the programme to 1,000 stations across the country.
“Each tier of government must keep doing its part and work together for the benefit of every Nigerian” he said.
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