President Bola Tinubu has restated his government’s resolve to focus on efforts to implement the newly established National Affordable CNG Transit Programme, rather than return to fuel subsidy, which caused a strain on the economy.

Mr Tinubu, in a statement on Saturday, stated that the resolve was made after he met with the 36 state governors on August 27, when they agreed that from October 1, measurable reductions in transportation costs must be experienced across the country.

Mr Tinubu said, “On August 27, I met with the governors of our 36 states, and we agreed on a clear objective. From October 1, more Nigerians should begin to see measurable reductions in transportation costs.

“We subsequently established an implementation committee for the National Affordable CNG Transit Programme under the auspices of the Nigeria Governors’ Forum, chaired by Governor AbdulRahman AbdulRazaq.

“Over the last three years, my administration has deliberately invested in building a CNG transportation ecosystem across Nigeria. Today, more than 120,000 vehicles have been converted; we have over 400 certified conversion centres and more than 90 CNG refuelling stations across the country, and these figures are increasing daily.

“At a time like this, our answer cannot be to return to the ruinous petrol subsidy regime that consumed trillions of naira and left our economy exposed to every movement in international oil prices, as some have suggested. We must accelerate the cheaper alternatives we have been building at home.”

Mr Tinubu acknowledged the ongoing efforts by the committee, PI-CNG & EV, the states and other critical stakeholders to identify priority transport corridors, determine appropriate interventions and put the necessary arrangements in place, especially amid the current global energy crisis.

The president stated that Nigerians in Borno, Kaduna, Oyo, Adamawa, Enugu, Plateau, Niger, Delta, Kwara and Lagos states, as well as Abuja, were already experiencing evidence of possible cheaper transportation from cheaper energy sources.

He stated that as disruptions to global energy supplies were again putting pressure on petrol and diesel prices, as well as increasing transportation costs worldwide, Nigeria, although unable to control events in global energy markets, must, as a gas-rich nation, reduce its exposure to global energy challenges.

Mr Tinubu encouraged each state to maintain the momentum towards October 1 by working with transport unions and commercial operators, supporting conversion and fleet deployment, facilitating the infrastructure required, and ensuring that savings from cheaper energy reach Nigerians through lower fares.

He vowed that his government would keep supporting “the scaling of CNG infrastructure and access, expand conversion capacity, and create the enabling environment for states, transport operators, manufacturers and private investors to participate.”

He stated that Nigeria, with its gas, current building of infrastructure and financial savings, must move faster and scale it so that more Nigerians would also feel the savings in the daily fares they pay.