The Federal Government is targeting a 50 percent reduction in transport fares with the planned deployment of Compressed Natural Gas (CNG) mass transit buses.
The Minister of Information and National Orientation, Mohammed Idris, disclosed this in a statement on Sunday in Abuja.
He urged Nigerians to see the initiative as a relief introduced by President Bola Tinubu’s administration after the removal of fuel subsidy.
The minister said there were ongoing efforts among the relevant Ministries, Departments and Agencies (MDAs) to tackle inflation, stabilize foreign exchange rates, and establish a genuinely supportive climate for business and investment.
Idris said: “Impactful interventions are being rolled out, including a Students’ Loan Scheme, a Presidential Initiative to deploy lower-cost CNG mass transit buses to provide alternatives to petrol and diesel, and various low-interest loan schemes for businesses. The CNG interventions will bring down the cost of transportation by more than 50%.
“We urge Nigerians to take advantage of these opportunities as they emerge, as they have been designed for the benefit of all.
“All relevant Ministries and Agencies of the Federal Government are working in coordinated fashion, to bring down inflation, stabilize foreign exchange rates, and create a truly enabling environment for business and investment.”
