The National Economic Council has resolved to establish a joint financing framework between the Nigerian and State Governments to accelerate the deployment of CNG and electric vehicles across the country.
This was part of resolutions reached at this month’s meeting of the council, chaired by Vice President Kashim Shettima.
The Council took the decision after it received a presentation on the National Affordable Compressed Natural Gas (CNG) Transit Programme by the Chairman of the Presidential Initiative on Compressed Natural Gas and Electric Vehicles, Ismaeel Ahmed.
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The Council therefore, directed that the programme must deliver tangible benefits to citizens through reduced transportation costs, rather than limiting its impact to the provision of alternative-energy vehicles.
It further resolved that relevant authorities should engage transport unions and operators to ensure that savings arising from the adoption of CNG and electric vehicles are passed on to commuters through lower fares.
In order to give effect to the decision, the Council agreed to constitute a committee to coordinate the proposed financing arrangement, engage relevant stakeholders and develop practical measures to ensure that the economic benefits of the programme translate into affordable, accessible and sustainable transportation for Nigerians.
