Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has assured that the Presidential Initiative on Compressed Natural Gas (CNG) of the current administration is on course and that CNG-powered vehicles are being rolled out for the benefit of all Nigerians.
The minister, who stated this during a visit to the Jet Motor Company plant in Lagos at the weekend, explained that the CNG vehicles being produced locally are finished products that could be taken off the shelf, but have to be assembled.
“I have come to see what is happening with the CNG Initiative. Where are the buses Nigerians have been asking for? I have seen for myself; I have driven them; tested them and I have seen them being assembled. Of course, shortly, they will begin to be rolled out and the benefits will be available to all Nigerians.
“The initiative is reducing transport costs. It is also helping to grow the economy. So, we see, two critical aims are being achieved,” the minister said.
Edun commended the management of Jet Motor Company for their contribution towards deepening local automotive productive capacity.
He highlighted JET Motors’ dedication to employing local talent, which underscored their belief in empowering communities and contributing to Nigeria’s economic prosperity while assuring them of continued government support.
The minister’s visit demonstrated Nigeria’s capacity to meet the growing demand for environmentally friendly vehicles.The visit was also seen as part of efforts to engage with local producers, lay out government’s local industry support plans and build a broad-based partnership with key industry leaders towards accelerating the expansion of local capacity, job creation and economic growth.
The minister was accompanied on the tour by the Director-General of the National Automotive Design and Development Council (NADDC), Joseph Osanipin, and the Commercial Director of PCNGi, Tosin Coker.
They were received by the founder and chairman, Jet Motor Company, Chidi Ajaere; CEO, Derek Ewelukwa; Sales Director, Sanjay Rupani and Plant Manager, Ebimo Ofongo.
Welcoming the minister to the plant, Ajaere said Jet Motors Company “now can assemble full CNG and petrol buses and also convert petrol vehicles to CNG”.
Ewelukwa expressed his appreciation to the minister and his team for the honour done to the organisation by their visit, and thanked the Tinubu administration for its intentional efforts geared towards supporting local industries, particularly the automotive sector, through direct interventions and the programmes of the NADDC.
