FG reallocates ₦100bn for CNG buses to vehicle conversions

The Federal Government has altered its plan regarding the ₦100bn allocation announced by President Bola Tinubu for 3,000 compressed natural gas buses. Tosin Coker, Chief Operating Officer of the Presidential Compressed Natural Gas and Electric Vehicles Initiative, revealed in an interview that the funds will now support vehicle conversions, tricycles, and larger buses.

This decision was made after the initiative's establishment in October 2023, as the government recognized that merely purchasing 3,000 buses would not adequately address the transportation needs of Nigerians. Coker explained that the revised strategy aims to expand access to alternative-fuel transportation.

The original plan, announced in July 2023, was deemed insufficient, leading to the new approach that includes converting commercial vehicles. Coker reported that over 650 buses have been introduced nationwide, and the conversion program has achieved over 120,000 conversions.