President Bola Ahmed Tinubu and state governors have agreed to implement urgent measures to reduce transportation costs across Nigeria, with the aim of ensuring that citizens begin to benefit from lower vehicle operating costs starting from October 1, 2026.
The plan will focus on increasing the use of vehicles powered by Compressed Natural Gas (CNG) and electric vehicles, which will be significantly cheaper to run compared to petrol-powered vehicles.
Tinubu stated that CNG-powered vehicles could reduce fuel expenses by 60 to 80 percent when compared to petrol-powered ones.
The President explained that over 120,000 vehicles have already been converted to run on CNG, while more than 100,000 additional conversion kits are currently being manufactured.
Furthermore, he has ordered the construction of an additional 500 CNG refilling stations, which will bring the total number of stations planned across the country to 1,000.
Tinubu said the Federal Government and state governments will establish a joint committee to begin implementing these measures. He emphasized that the savings on fuel costs should directly lead to a reduction in transportation fares, especially for commuters within the states.