Nigeria’s Finance Minister and Coordinating Minister of the Economy, Olawale Edun, visited the JET Motor Company’s assembly plant in Lagos on Friday, where Compressed Natural Gas (CNG) buses are being assembled under the Presidential CNG Initiative (PCNGi), a presidential aide, Temitope Ajayi, disclosed in a press release on Saturday.
JET, located in Lagos, is one of the four assembly plants selected by the PCNGi to assemble semi-knocked-down components of climate-friendly CNG and electric buses and tricycles that will soon be rolled out to slash transportation costs. JET also has the capacity to convert petrol buses to CNG.
After touring the JET plant and witnessing the assembly process, Edun expressed satisfaction with the progress of work at the assembly. He acknowledged that although the PCNGi has taken time to be actualized, its benefits would soon be available to Nigerians.
“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,” Edun stated.
He highlighted that the PCNGi is focused on providing affordable mass transit solutions. Edun explained that while it costs around N55,000 to fill a 15-20 seater petrol bus, filling a CNG bus of the same capacity would cost between N12,000 and N15,000, resulting in significant cost savings.
“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,” he added.
Edun commended JET’s employment of local talents in the assembly of the vehicles, a move that aligns with the government’s efforts to promote local manufacturing and job creation.
The minister was accompanied during the visit by Tosin Coker, the Commercial Director of the PCNGi, Joseph Osanipin, the Director General of the National Automotive Development and Design Council, and representatives from JET Motor Company, including its Chairman and founder, Chidi Ajaere, CEO Engr Derek Ewelukwa, Sanjay Rupani of the Technical Development Department, Ebimo Ofongo, the Plant Manager, and other members of the JET team.
Ajaere commended President Bola Tinubu for his initiative in promoting local production of the CNG vehicles and the entire PCNGi team’s resolve to make the project a success.
