Tinubu's Plan For CNG Buses: 3 Things to Know
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Oil & Gas - August 3, 2023

Tinubu’s Plan For CNG Buses: 3 Things to Know

President Bola Tinubu had earlier revealed plans to roll out compressed natural gas (CNG) buses as a solution to ease the burdens created by the removal of fuel subsidies in May 2023.  

Tinubu said, “Part of our program is to roll out buses across the states and local governments for mass transit at a much more affordable rate. We have made a provision to invest N100 billion between July 2023 and March to acquire 3000 units of 20-seater CNG-fueled buses.”   

He also noted that “These buses will be shared with major transportation companies in the states using the intensity of travel per capita. Participating transport companies will be able to access credit under this facility at 9% per annum with 60 months repayment period.”

Following his statement earlier this week, the Independent Marketers Association of Nigeria (IPMAN) urged Tinubu’s administration to adopt its infrastructure for effective and accelerated implementation of the Compressed Natural Gas (CNG) project.

Chinedu Anyaso, Chairman of IPMAN Enugu Depot Community, in an interview, said “I want to call on the Federal Government to use the existing downstream infrastructure which IPMAN already has on the ground with over 21 depots and thousands of outlets across Nigeria, and we have the space.”

What you need to know

IPMAN said if Tinubu’s administration “makes use of independent marketers as a channel, it will quicken the distribution process more than looking for fresh vendors.” 

Secondly, IPMAN stressed that all it requires to get started is the right funding and training for members.”

Thirdly, Chinedu emphasized that if Tinubu worked with IPMAN depot leaders, the policy will be properly driven and the existing energy gap will be bridged.

He further said the effective implementation of the CNG project would give Nigerians quality alternatives and energy security.

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