NEC Moves To Cut Transport Fares Through CNG, Electric Vehicles

The National Economic Council (NEC) has resolved to establish a joint financing framework between the Federal and State Governments to accelerate the deployment of Compressed Natural Gas (CNG) and electric vehicles nationwide, as part of efforts to reduce transportation costs for Nigerians.

The Council also directed relevant authorities to engage transport unions and operators to ensure that savings from the adoption of CNG and electric vehicles are passed on to commuters through lower fares.

The resolutions were reached on Thursday during the 161st meeting of NEC, chaired virtually by Vice President Kashim Shettima.

According to a statement issued by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications in the Office of the Vice President, the Council received a presentation on the National Affordable Compressed Natural Gas (CNG) Transit Programme.

The presentation was made by the Chairman of the Presidential Initiative on Compressed Natural Gas and Electric Vehicles, Barrister Ismaeel Ahmed.

NEC emphasised that the programme must deliver tangible benefits to citizens by reducing transportation costs, rather than being limited to providing alternative-energy vehicles.

To implement the decision, the Council agreed to establish a committee to coordinate the proposed financing arrangement, engage relevant stakeholders, and develop practical measures to ensure that the programme delivers affordable, accessible and sustainable transportation.

The committee is expected to work towards ensuring that the economic benefits of adopting CNG and electric vehicles translate into lower transport fares for commuters.

The initiative forms part of broader efforts by the Federal and State Governments to ease the cost of living and improve the welfare of Nigerians.

The Council’s resolution emphasises affordability and accessibility, with the ultimate goal of ensuring that the transition to alternative-energy vehicles yields measurable benefits for public transport users.

On livestock development, Council received the report of the NEC Ad Hoc Committee on Livestock Development, chaired by the Governor of Kebbi State, Comrade Nasir Idris, and acknowledged the sector’s potential to stimulate economic growth, create employment and improve livelihoods across the country.

Council noted that all states had indicated interest in supporting the Federal Government’s livestock development initiatives and resolved to strengthen collaboration between the Federal and State Governments to accelerate reforms and unlock the sector’s economic potential.