The federal government has handed over the Compressed Natural Gas buses to the State House.
The government also flagged off the Presidential Compressed Natural Gas Initiative (PCNGI) and about seven conversion centres have been put in place across Nigeria.
Femi Gbajibiamila, the Chief of Staff of the President, oversaw the official flag off of the initiative on Friday at the State House, Abuja.
Handing over the CNG buses to the State House, the Chairman of the Presidential CNG Initiative Steering Committee, Zacch Adedeji, represented by the Chief Executive Officer of the Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) Farouk Ahmed, said that Valued Added Tax on the CNG buses purchase has been waived.
He said the buses are a symbol of Tinubu administration’s commitment to spearheading an energy revolution.
Project Director of the Presidential CNG Initiative, Engr Micheal Oluwagbemi, said state governments had already indicated investment interest in the CNG buses.
Speaking on the cost of conversion, Oluwagbemi revealed that the current cost of conversion varies from the model and type of vehicle, he added that the president has ensured that as part of PCNGI, the committee will incentivize the cost for the Nigerian populace.
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