Business

FG Launches, Hands Over Innoson Made 15 CNG Buses To Transport Unions

Published

2 weeks ago

November 28, 2024

The Federal Government of Nigeria has again reiterated efforts to provide affordable transportation means to the Nigerian masses to cushion the effects of economic hardship orchestrated by the removal of fuel subsidies.

The Minister of Transportation, Senator Said Alikali, remarked Thursday during the official launch and handover of locally made P-CNG buses to the organized commercial transport unions including NARTO, RETEAN, and NURTW
Senator Alkali said that the occasion should be seen beyond the launching of CNG buses and their handing over to the leadership of operating unions but should be seen as a way of creating a new path that prioritizes innovation, sustainability, and, most importantly, the well-being of every Nigerian.

“Let me also congratulate the Presidential Committee on CNG Initiative for driving the process to this level of formal launching of the CNG-powered buses for operation within the Federal Capital Territory, Abuja.

I regard it as an honor to stand before you on this remarkable occasion to celebrate a significant milestone in transforming Nigeria’s transportation sector, alleviating economic burdens, and building a cleaner, more prosperous future for all through the provision of an affordable transportation system”.

While acting in a collaborative capacity in compliance with Mr. President’s directives, the Minister noted that the Federal Ministry of Transportation will continue to support this laudable initiative to make the actualization of the Renewed Hope Agenda a reality.

He said, in the same vein, the Ministry will ensure effective sensitization of the transport owners, operators, passengers, and the general public to make the Initiative accessible to Nigerians. This, the Minister detailed, will no doubt make the Initiative popular, acceptable, and reliable to enhance the welfare of Nigerians, which the President is passionate about providing in compliance with the constitutional directive to uphold the primary purpose of government.

Senator Alkali, further stated, that, “This launching ceremony will witness the handover of 15 CNG-powered buses to NURTW, RTEAN, and NARTO as part of the President’s Renewed Hope Clean Energy Transport Scheme, a strategic initiative designed to ease the burden of fuel subsidy removal which will ensure that Nigerians, particularly those in the transportation sector, can access cleaner, more affordable energy solutions that reduce transport costs for operators and commuters alike.

“These buses symbolize the government’s commitment to empowering citizens while transitioning to a cleaner energy economy. They also allow us to monitor and ensure the safety and efficiency of the transportation sector, ultimately benefiting all Nigerians.

“The Presidential Compressed Natural Gas Initiative is a bold statement of Nigeria’s intent to take control of its resources and utilize them for the benefit of its people. We have been exporting our raw materials for decades only to import finished goods at a premium.

We exported crude oil and imported refined petroleum; we exported palm oil, cocoa, and rubber and imported soap, chocolate, and tires. The time has come to break this cycle”.

Meanwhile, the Transport Minister has informed that President Tinubu has made it clear that Nigeria will not continue to export gas, only import products like fertilizers or other derivatives.

He said, “Instead, we will harness our gas to power our economy. Nations like Japan, which import our gas, have demonstrated its transformative potential. They use gas to drive their transportation sector, reduce their reliance on petrol, and export vehicles like Toyota, Nissan, and Mitsubishi to countries like ours. Why shouldn’t Nigerians benefit from the resources beneath our soil?

“I am glad to state that by transitioning to compressed natural gas, we are cutting down on carbon emissions, reducing the cost of fuel for transportation operators, and enabling the growth of a cleaner and more efficient transportation system, he said.

The Minister of State, Petroleum (gas) Rt. Hon. Ekperikpe Ekpo, while speaking during the launch expressed the Petroleum Ministry’s readiness to ensure the availability of CNG products nationwide to encourage the operation.
The Minister of State informed that efforts are being made by President Bola Ahmed Tinubu to keep his campaign promises of removal

The Managing Director, CEO P-CNG Eng. Michael Oluwafemi said during the ceremony in Abuja that mentioned that the CNG program has attracted over $450.000 million culminating in the value chain, adding that more of the bushes will soon be pushed out of Nigerian roads to fulfill the dream of the present administration.
He said in all, and to hive the presidential mandate, that the P-CNG will soon add tricycles and train coaches to the CNG mass transport program, in addition to over 100 CNG conversion centers across the country.

Speaking also,
(RTEAN), National Chairman DR Musa Mohammed Maitakobi observed that
Transportation is the backbone of any economy, which connects people to opportunities, services, and essential resources.
He, however, submitted that poor transportation systems in Nigeria have made many Nigerians face difficulties with the rising costs of fares impacting their daily lives and limiting their access to work, education, and health care.
“These CNG buses will provide free transportation to individuals in need, creating a ripple effect of positivity throughout our communities. We will not only be easing the financial strain on families but will also be contributing to a greener and more sustainable environment. CNG is a cleaner alternative to traditional fuels, and by utilizing these buses, we are playing our part in reducing our carbon footprint.

“We express our heartfelt appreciation for entrusting us with this responsibility. We are fully committed to ensuring that these buses are deployed efficiently and effectively. We will work tirelessly to create accessible routes and schedules so that our services reach those who need them most. Together, we will ensure that this initiative is a success and that it honors the intent behind it.

“To our drivers and staff, this is a call to duty. You will be the face of this initiative, and your dedication and compassion will make a difference in the lives of countless citizens. As we embark on this journey, let us encourage one another, assist those in need, and uphold the values of integrity, respect, and service that define our organization”.
The P-CNG program also targets clean energy to fight climate change United Nations Environment Initiative.

DailySun

Business

inDrive Emerges Most Outstanding Brand in Urban Service

Published

3 hours ago

December 12, 2024

Seyi Babalola

inDrive, a global mobility and urban services platform, has emerged the most outstanding brand in urban service in Nigeria at the maiden edition of Iconic Brands and Legends of Media and Marketing Communications Award held in Lagos on Tuesday, December 10, 2024.

inDrive was recognized and celebrated for its transparency, fairness, and affordability in intercity travel and logistics among ride-hailing platforms in Nigeria.

Speaking on the award, Timothy Oladimeji, Country Representative, Nigeria, inDrive, described it as a testament to the ride-hailing platform’s unique contribution and commitment to providing fair and accessible transportation options to its customers.

Oladimeji stated that the award highlights the company’s focus on safety, fairness, affordability, and satisfaction, thereby cementing its reputation as the go-to ride-hailing service in Nigeria.

He noted that the achievement underscores the company’s dedication to delivering the best ride-hailing and logistic experience for customers while continually pushing the envelope for innovation. He explained that the mobility platform remains a game-changer in the ride-hailing business in Nigeria as it empowers both drivers and passengers through its negotiation model.

“This recognition is a huge motivation that would help us expand our footprint and continue to provide exceptional services to all our customers. I can categorically say that the recognition validates the acceptability and rapid adoption of our platform by both drivers and passengers in Nigeria,” he said.

Speaking on the recognition and criteria, the lead convener of the award, Samuel Ajayi, said the award was truly deserving, given that the platform has provided unique, fair, and affordable services to all its users.

Ajayi emphasised the significance of acknowledging the brand’s achievements in Nigeria over the last few years adding that the company has shown exceptional performance by all parameters and standards.

“inDrive has really thrown its weight since joining other ride-hailing platforms in Nigeria. I am happy to say that inDrive has disrupted the Nigerian market with its unique offerings, which has endeared many users to the platform. From our findings, I can say that the brand remains the preferred platform given that it is the only one that provides safe, fair, efficient, and affordable transportation,” he said.

Since launching in Nigeria, inDrive has cemented its status as a market leader through its commitment to enhancing urban mobility and consistently delivering superior customer service.

Business

FG to benefit from World Bank’s $500m loan

Published

19 hours ago

December 11, 2024

Seyi Babalola

Federal Government is to benefit from a $500 million loan facility from the World Bank for the Human Capital Opportunities for Prosperity and Equity (HOPE) project in the country.

Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, made this known during a courtesy visit on him by the International Monetary Fund (IMF) Mission Chief for Nigeria, Mr. Axel Schimmelpfennig

The loan facility, according to the minister, will increase the availability and effectiveness for financing for basic education and primary health care in the various states of the federation.

The fund, he said, will enhance transparency and accountability for basic education and primary health care in addition to improving recruitments, deployments and better performance management of teachers.

While appreciating the support of the World Bank, Bagudu elucidated that the Nigerian Constitution is the legal framework that provides the rules and procedures that guides the budget process in addition to empowering the federal and state governments to make expenditures in the preceding year for the purpose of meeting expenditure necessary to carry on the services of the government.

“This expenditure can continue for a period not exceeding six months or until the coming into operation of the law as can be seen on Chapter 5, Part 2 Section 122 of the Nigerian Constitution” he said

Bagudu explained further that the reforms embarked on by the Bola Ahmed Tinubu’s administration were aimed at developing and implementing economic and tax reforms that will guarantee more functional Public Financial Management (PFM) systems in the country.

“The economic reforms are necessary decisions to put the Nigerian economy on the right track”he explained

He assured the IMF Team that though Nigeria is experiencing a number of challenges such as hardship of citizens as a result of removal of fuel subsidy, floating of foreign exchange, electricity reforms that distributed citizens into bands, Nigeria is on course to economic recovery.

In a statement, the minister appreciated the willingness of the IMF to support Nigeria but however called for more support in the area of resource mobilisation from multinational partners in order for government to provide developments in all sectors of the economy.

Earlier, the International Monetary Fund (IMF) Mission Chief for Nigeria, Mr. Axel Schimmelpfennig said he was in the country to have interactions with the minister on the workings of the Nigerian budgeting process with particular emphasis on the simultaneous implementation of the 2023/2024 budgets and supplementary budgets in the same year in preparation for the publication of the 2025 annual report of the World Bank.

Schimmelpfennig welcomed the tax reforms of the federal government as increased revenue generation will ensure more developments for Nigerian citizens and thus promised the country of more IMF support for Nigeria’s developmental needs.

Permanent Secretary, Ministry of Budget and Economic Planning, Dr. Vitalis Emeka Obi, briefed the team on the ministry’s role in co-ordinating Nigeria’s development planning and budgeting processes. The Permanent Secretary emphasised that 2025 promises to be a year of more rapid investments.

DailySun

Business

FG invests $450m on CNG value chain

Published

3 days ago

December 9, 2024

Seyi Babalola

The Nigerian government said that it has invested over $450 million in the development of the country’s compressed natural gas value chain.

According to NAN, the Project Director of the Presidential Compressed Natural Gas Initiative, PCNGi, Michael Oluwagbemi, disclosed this on Monday at the 9th Edition of the Nigeria Energy Forum, NEF 2024, in Lagos.

Oluwagbemi, who was represented by Tosin Coker, the Head of Commercial at PCNGi, emphasised that the investment spans critical areas of the CNG infrastructure, including the establishment of mother stations, daughter stations, refuelling stations, and conversion centres across the country.

“The Presidential Compressed Natural Gas Initiative (PCNGi) on Monday said that it had invested more than 450 million U.S. dollars in the Compressed Natural Gas (CNG) value chain.