The Finance Minister and Coordinating Minister of the Economy, Wale Edun has revealed that the cost of transportation will be reduced by over 250 per cent.
Edun made this assertion when he visited the JET Motor Company Assembly Plant where Compressed Natural Gas buses (CNG) were assembled in Lagos State.
According to Edun, the development will curtail inflation rate, in a statement on Saturday by the Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi.
He said,“I have come to see the CNG buses that Nigerians are asking about. I have seen them. I have tested them and driven them. I have seen them being assembled. The benefits will soon be available to Nigerians.
“Two critical aims will be achieved. Whereas it costs about N55,000 to fill a 15-20 seater bus with petrol, it will cost between N12,000 to N15,000 to fill a CNG bus of the same capacity.
This is three times if not four times less. This is a huge savings that will help reduce transport costs and at the same time, help reduce inflation.”
This shows that the cost of transportation will be reduced by 266.67 per cent.
While praising the JET’s employment of local talents in the assembly of the vehicles, Edun said the Presidentian CNG Inititative (PCNGi) was about affordable mass transit.