The long-awaited CNG buses have been officially transferred by the federal government to the State House.
This event marked the commencement of the Presidential Compressed Natural Gas Initiative (PCNGI), which includes the establishment of approximately seven conversion centers throughout Nigeria.
The inauguration of this initiative took place at the State House in Abuja, overseen by Femi Gbajabiamila, the Chief of Staff to the President. During the ceremony, the Chairman of the Presidential CNG Initiative Steering Committee, Zacch Adedeji, represented by Farouk Ahmed, the Chief Executive Officer of the Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), announced the exemption of Value Added Tax (VAT) on the purchase of CNG buses.
These buses are emblematic of the Tinubu administration’s dedication to leading an energy revolution, as expressed by Zacch Adedeji.
Engr. Michael Oluwagbemi, the Project Director of the Presidential CNG Initiative, disclosed that several state governments have already expressed their interest in investing in CNG buses.
He also explained that the cost of conversion depends on the vehicle’s model and type, and as part of the PCNGI, the committee, under the President’s direction, will work to provide incentives to reduce this cost for the Nigerian population.
