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Tinubu launches CNG buses in Aso Rock, says commercial vehicles consume 80% Nigeria’s petrol
Tinubu launches CNG buses in Aso Rock, says commercial vehicles consume 80% Nigeria’s petrol
President Bola Tinubu on Monday in Abuja inaugurated 30 hybrid Compressed Natural Gas (CNG) buses that can switch from petrol to gas.
The Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and the Nigerian National Petroleum Company Limited (NNPCL) donated the locally manufactured buses to the government.
At the inauguration, President Tinubu said utilising natural gas to power the nation’s transportation industry would reduce transportation costs, enhance productivity and save the nation trillions of naira spent on the importation of petrol and diesel.
He said, “If we can enhance our energy competitiveness and bring about transformative changes like this, we will definitely be able to achieve the prosperity we are working hard to accomplish for our people.
“These CNG buses are encouraging and promising to enhance our transportation system.”
He noted that commercial vehicles account for over 80 per cent of the nation’s petro demand, citing examples of several countries that had switched to CNG for their transportation systems and are already reaping the benefits.
“Countries like India have mandated CNG for all commercial vehicles since 2004. In Nigeria, commercial vehicles make up about 80 per cent of our petroleum demand, costing us trillions of naira every month.
“The solution is here. We have it. We will work on it. We promise you, definitely, things will get better. Prosperity will be achieved,” the President said.
President Tinubu commended Innoson Motors, the vehicle manufacturers, for their commitment to his administration’s CNG initiative.
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Chairman of DAPPMAN, Dame Winifred Akpani, expressed the association’s support for the administration’s commitment to enhancing the nation’s transportation system, which she noted would lead to lower transportation costs.
“This batch of hybrid buses, which DAPPMAN is donating to the Federal Government, furthers our support for this administration’s resolve to address Nigeria’s energy challenges.
“We are proud to note that these buses have been designed, manufactured, and delivered by Innoson Motors, a Nigerian company,” Dame Akpani said.
Managing Director of Nigerian National Petroleum Corporation (NNPC) Foundation, Emmanuella Arukwe, said the CNG buses were the company’s contribution to promote clean energy and affordable transportation for the Nigerian masses.
She expressed excitement about the foundation’s involvement in the project, stating that it aligns with their focus areas of energy and the environment.
“We committed 10 CNG buses to DAPPMAN which is what we have delivered today. We are excited to be part of this initiative. Although it is an NNPC initiative, for us in the foundation, we are really committed to our area of focus which is energy and the environment.”
Arukwe highlighted the significance of the CNG buses to the economy, noting that fueling the buses is more cost-effective compared to conventional fuels.
She emphasized that the use of CNG buses will greatly reduce transportation fares, ultimately benefiting the public and boosting the economy.
Minister of Information and National Orientation, Mohammed Idris, said the presentation signified a major shift as promised by the Tinubu administration to transition from fossil fuel to renewables, in this case CNG initiative. He said it was in fulfilment of the President’s promise that the country will gradually move from very expensive PMS to CNG that is very cheap and very affordable for most Nigerians.
“What this means is that Nigerians are going to be saving money, the environment is also going to be cleaner because fossil fuels are usually less environmentally friendly.”
This initiative is part of a broader strategy by the Tinubu administration to modernize Nigeria’s transportation system, reduce reliance on petrol, and promote the use of cleaner energy sources. The government has rolled out plans to deploy a total of 3,000 CNG buses by March 2024, with a long-term goal of having one million CNG buses on the roads by 2027.
Tinubu launches CNG buses in Aso Rock, says commercial vehicles consume 80% Nigeria’s petrol
News
NNPC has no right setting price of Dangote petrol – Falana
NNPC has no right setting price of Dangote petrol – Falana
Human rights lawyer, Femi Falana, SAN, says the Nigerian National Petroleum Company Limited, NNPCL, do not have the power to fix the price of Premium Motor Spirit, also known as petrol, for the Dangote Refinery after deregulation.
Falana said the NNPCL action violated the Petroleum Industry Act, PIA, which stipulated that the price of petrol must be determined by the market forces
In a statement on Tuesday, the legal luminary said it was an aberration for the NNPCL to peg the price of petrol produced and refined in Nigeria at 950 per litre.
“On September 5, 2024, the Nigerian National Petroleum Corporation Limited (NNPCL) stated that foreign exchange (forex) illiquidity had been a significant factor influencing the fluctuation in prices of Premium Motor Spirit (PMS) governed by unrestrained market forces, as provided for in the Petroleum Industry Act, PIA.
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“The NNPCL was explaining the pump price of PMS imported into the country at the material time. Specifically, the Executive Vice President of Downstream NNPC Ltd Mr. Adedapo Segun, explained that Section 205 of the PIA, which established NNPC Ltd, stipulated that petroleum prices were determined by free market forces.
“But contrary to the well-publicised statement, the NNPCL has fixed the price of PMS produced by the Dangote Refinery and Petrochemical Company Limited. The action of the NNPCL is a violent contravention of section 205 of the PIA, which stipulates that the prices of petroleum products shall be determined by market forces.
“Furthermore, since the petrol sold by Dangote is not imported into the country but produced at the Lekki Economic Free Trade Zone, the NNPCL cannot justify the sale of petrol at N950 per litre without freight cost, lightering cost, jetty depot fees, storage fees, foreign exchange costs, NPA charges: NIMASA charges, Customs duties etc,” he said.
Falana’s outburst followed the commencement of PMS lifting by the NNPCL from the Dangote Refinery.
You would recall that as soon as lifting commenced, NNPCL announced that the product would sell for N950 per litre in Lagos State and its environs, and above N1,000 per litre in states such as Borno.
Reacting, the Independent Petroleum Marketers Association of Nigeria, IPMAN, on Monday, criticised NNPCL, saying it was not right for petrol lifted from the Dangote Refinery to cost higher than imported ones
NNPC has no right setting price of Dangote petrol – Falana
News
Coffee prices double in Nigeria after global supply disruptions
Coffee prices double in Nigeria after global supply disruptions
Nigeria is feeling the impact of the global coffee crisis as futures prices surge by over 30% due to severe supply disruptions caused by drought in Brazil, the world’s largest Arabica coffee producer.
In Nigeria, coffee prices have doubled in 2024, with popular brands like Nescafe and TopCafe experiencing significant hikes.
For instance, “Nescafe 3 in 1” spiked to N34,000 per carton in August, up from N28,000 in May, and a steep rise from N18,000 last year.
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The rainfall shortage in Brazil, which began in April, has led to a sharp decline in coffee production, sparking a global rush to secure supplies.
This has driven up coffee futures, with U.S. Coffee Futures and Arabica Futures both soaring by more than 30% in 2024, impacting markets worldwide, including Nigeria.
Coffee prices double in Nigeria after global supply disruptions
News
UN donates $6m to support Borno flood victims
UN donates $6m to support Borno flood victims
The United Nations has announced the donation of a $6 million fund in support of the Maiduguri flood victims in Borno State.
In a statement on Tuesday, the UN’s Humanitarian Coordinator in Nigeria, Mohammed Fall, said a joint mission comprising UN agencies and non-governmental organisations (NGOs), alongside the Nigeria Red Cross Society, visited the main city of Maiduguri over the weekend.
According to Fall, the team met with people who had been impacted, many of them had already displaced multiple times by conflict and insecurity in the area.
The flood was caused by an overflow in the Alau Dam located just over 10 miles to the south of Maiduguri.
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“We and our partners are providing them with hot meals, we are facilitating air drops of food in hard-to-reach areas cut off by flood waters, and we are also trucking in water.
“We are also providing water and sanitation hygiene services and water purification tablets to stem disease outbreaks.
“This is in addition to supplying hygiene and dignity kits to women and girls, as well as emergency health and shelter services.”
He added that the staff of the UN Office of the Coordination of Humanitarian Affairs were also working closely with donors to secure additional funding.
UN donates $6m to support Borno flood victims
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