As part of the Presidential Compressed Natural Gas Initiative, the Nigerian Federal Government formally turned over twenty Compressed Natural Gas (CNG) buses to the Oyo State Government.
The transfer happened at the Pacesetter Transport Service (PTS) location in Oyo State’s capital, Ibadan, at Eleyele. On behalf of the Federal Government, the handover was led by Michael Oluwagbemi, CEO and Programme Director of the Presidential CNG Initiative.
He emphasised that the goal of the CNG bus introduction is to address issues with fuel importation and offer a more environmentally friendly mode of transportation.
Oluwagbemi said, “Ibadan has been appealing for generations since its establishment; it’s a state of hidden billionaires and a place where commerce flourishes.”
“This initiative demonstrates that the state is indeed a pioneer and a fitting place to launch the CNG programme,” Oluwagbemi added.
He emphasised the directive issued by President Bola Tinubu to make better use of Nigeria’s gas resources in order to develop the transportation sector, boost food production and fertiliser consumption, and carry out projects that will raise the standard of living for Nigerians.
“We are starting to take the right steps, though it requires us to endure some challenges. We cannot return to subsidising our own impoverishment. As a team, we are committed to this effort,” Oluwagbemi continued.
To promote sustainable mass transit and bring in money for the state, Pacesetter Transport Service (PTS) and the 20 CNG buses have formed a strategic partnership.
“We present these 20 buses as part of a sustainable partnership with Pacesetter Transport Service to generate income, as they are valuable assets. We need more such investments to ensure a more sustainable mass transit system, contributing to a brighter future for the state and Nigeria,” Oluwagbemi added.
Salami Dikko, Chairman and Sole Administrator of PTS, thanked President Tinubu and the Federal Government for the initiative after accepting the buses. He stated that under his direction, there are now 81 operational buses, up from five at the beginning.
Dikko emphasised that CNG is an essential answer to the state’s transportation requirements, particularly given the elimination of subsidies. In order to service additional routes throughout the state, he also asked for an extra 100 CNG buses.