Following a meeting with President Bola Tinubu at the Aso Rock Presidential Villa in Abuja, on Thursday, Chukwuma urged Nigerians to be patient with the administration.
Innoson Vehicle Manufacturing Founder and CEO, Innocent Chukwuma, has announced plans to introduce Compressed Natural Gas (CNG)-powered buses, which will provide affordable transportation for the commuting public.
Following a meeting with President Bola Tinubu at the Aso Rock Presidential Villa in Abuja, on Thursday, Chukwuma urged Nigerians to be patient with the administration.
Chukwuma expressed enthusiasm for the Presidential CNG Initiative, describing it as “the way forward” for Nigeria.
He highlighted the benefits of CNG, stating, “The government’s initiative on CNG is the best idea for transportation in this country. CNG offers many advantages for Nigeria, which is why I recognized its potential and began producing CNG kits before the announcement.”
Chukwuma emphasised that his company was already ahead of the curve, having started producing CNG-powered vehicles before the initiative was announced.
He concluded, “Everyone who tries CNG will find that it is the way forward for this nation.”
The meeting between Innoson Vehicle Manufacturing CEO, Innocent Chukwuma, and President Bola Tinubu on Thursday follows the President’s nationwide address five days prior, where he announced plans to distribute one million Compressed Natural Gas (CNG) kits at minimal or no cost to commercial vehicles.
These vehicles, which transport people and goods, currently consume 80% of imported Premium Motor Spirit and Automotive Gas Oil.
In his address, President Tinubu highlighted the irony of Nigeria’s reliance on oil-based petrol despite its abundant oil and gas resources.
He emphasised the need to harness gas resources to power the economy.
The CNG initiative, he explained, would yield significant savings of N2trillion monthly.
Tinubu noted that the country had been using scarce foreign exchange to import and subsidise petrol, and that the CNG initiative would alleviate this burden.
By adopting CNG, Nigeria can reduce costs, save resources, and redirect funds towards critical sectors like healthcare and education.
The President stated, “This will save over N2trillion a month, currently used to import PMS and AGO, and free up our resources for greater investment in healthcare and education.”
