ABC Transport CNG trucks, cargo, others excite investors as stock rises 22%

ABC Transport Plc has experienced a significant increase in its stock performance with the company’s shares rising by 22% year-to-date, climbing from N1.23 at the start of January to N1.50 on March 11, 2025.

This has thus elevated the company’s market capitalization from N2.942 billion to N3.588 billion over the same period.

Analysts attribute this positive momentum to ABC Transport’s strategic diversification initiatives, notably its substantial investment in Compressed Natural Gas (CNG) trucks and the establishment of ABC Cargo Limited, a fully independent logistics division.

Over the past six months, ABC Transport has invested over N8 billion in acquiring CNG-powered and other specialized trucks, underscoring its commitment to sustainable and cost-effective transportation solutions.

This move not only reduces the company’s carbon footprint but also lowers operational costs by decreasing reliance on diesel fuel. The adoption of CNG technology represents a crucial step in ABC Transport’s sustainability journey, aligning with global environmental standards.

In a bid to diversify its service offerings, ABC Transport launched ABC Cargo Limited, an autonomous logistics division.

This new entity is poised to enhance the company’s market presence in the logistics sector, providing specialized services that cater to the evolving needs of clients across Nigeria and the West African region.

The company’s recent financial results have further bolstered investor confidence.

For the fiscal year ending December 31, 2024, ABC Transport reported a pre-tax profit of N634.7 million, a remarkable turnaround from the pre-tax loss of N260.1 million recorded in 2023.

Total revenue surged to N12.6 billion from N7.1 billion in the previous year, with significant contributions from loads and waybills (₦4 billion), sales of vehicle spares and speed governors (N2.8 billion), and haulage operations (N2.8 billion).

Speaking on these developments, the company’s Managing Director, Mr Jude Nneji, commended that the ABC’s leadership had also taken other strategic steps towards sustaining growth in these new segments.

For instance, he said it had invested heavily in a new maintenance facility in Calabar and also improved its driver training facilities.

These strategic initiatives and robust financial performance have positioned ABC Transport favorably in the market, reflecting a strong buy trend that commenced in 2024 and has persisted into 2025.

As the company continues to innovate and expand its operations, it remains a focal point for investors seeking sustainable and profitable opportunities in the transportation and logistics sector.

Naira strengthens, gains N29.89 against US dollar

The Nigerian Naira closed the week on a positive note, appreciating by N29.89 against the US Dollar in the official market.

According to data from the Central Bank of Nigeria (CBN), the Naira traded at N1,517.93 per dollar on Friday, reflecting a 1.9% increase from Thursday’s closing rate of N1,547.82.

READ ALSO:

• EL-Rufai, police clash over ex-commissioner’s arrest
• How to lower fuel consumption of your car
• South African ambassador ‘no longer welcome’ in US, Rubio says

The currency’s recovery comes after a period of decline since March 5, offering a sign of relative stability. In recent months, the Naira has traded within a range of N1,500 to N1,900 against the dollar across both official and parallel markets.

This uptick suggests ongoing efforts to stabilize the currency may be yielding results, as market watchers remain hopeful for sustained improvements.

Naira strengthens, gains N29.89 against US dollar

How to lower fuel consumption of your car

When President Bola Tinubu announced an end to fuel subsidy at the inception of his regime in 2023, many motorists were jolted by the expected impact it would have on the cost of keeping their vehicles on the road.

Many Nigerians were also concerned about the impact it would have on the cost of living, especially the prices of goods, services and transportation.
And their fears were genuine; prices of goods went up astronomically and there were complaints of hardship all over the country.

This led to a swift drop on the sales of big cars, especially Sport Utility Vehicles. Many Nigerians quickly parked these cars in their homes and some immediately put up theirs for sale while others quickly bought smaller cars that they presumed would consume less fuel. They forgot that the rainy season would not be fair to the roads and their new small sedans, especially the bumpers and underneath the cars.

Those living in flood-prone areas like Lekki and some seasonally flooded areas in Rivers, Delta and Bayelsa states can attest to the advantages of SUVs over sedans from their expenses. With some of these expected challenges, it didn’t take long for the average Nigerian motorist to adjust and live with the negative impacts of the fuel subsidy removal.

Though the challenge persists, coupled with the poor state of the roads across the country, it has been almost impossible for Nigerians to totally do away with their big cars and SUVs which are renowned for higher fuel consumption. It is the classical case of choosing between the devil and the deep blue sea.

READ ALSO:

• South African ambassador ‘no longer welcome’ in US, Rubio says
• Nasir El-Rufai’s scorched-earth one-man opposition, By Farooq Kperogi
• Osimhen scores hat-trick as Galatasaray demolish Antalyaspor

Today, Vanguard offers you some tips on how to ensure maximum fuel economy in your vehicles at a time like this. It is clear that by improving your car’s fuel economy, you’re helping to reduce the drain on your wallet. With some simple driving tips and habits, your fuel can take you further. A combination of good driving habits, and proper vehicle maintenance of your car is essential.

The Tips

*When driving, accelerate and brake gently, quick starts and stops waste fuel, but smooth driving boosts your kilometres per litre. Driving at slower speeds leads to better fuel efficiency.

Reducing speed by 10-20 kph can help. Keep a steady speed, you may use your cruise control on motorways because when you drive at a consistent speed, you save fuel.

•Watch the traffic ahead, it will help you predict what other drivers will do or intend to do. This helps you to avoid braking and speeding up.

•Also avoid idling your engine for long periods even when it is stationary as it wastes fuel. Switch off the engine if you need to stop for more than a minute.

•Also limit short journeys, and be aware that cold starts use more fuel.

•As a motorist, ensure that your tyres are appropriately gauged. Soft tyres cause drag and waste fuel. Check pressures often and inflate correctly.

Many drivers don’t know that proper inflation of their car tyres contributes significantly to the fuel economy. Under inflated tyres have a higher rolling resistance on the road. This means that your tyres generate more friction and rolling resistance and will increase fuel consumption.

READ ALSO:

• My wife is a pastor, can’t be Bigot, Tinubu tells Catholic bishops
• Electricity: TCN blocks access to data from DisCos
• Customs seize 1,149 jerry cans of petrol in Taraba

If your four tyres are underinflated by 10 psi, this could increase your fuel consumption by 10 per cent. Car manufactures always have the recommended tyre gauge inscribed on the drivers door frame. Gauge your tyre accordingly and reduce your fuel consumption.

•Correct wheel alignment is vital. It reduces tyre wear and drag. This also saves fuel.

•Many motorists carry all sorts of things in their boots which they hardly need and this adds to the weight of the car, this should be avoided. Note that every extra 50kg of load in your car increases fuel consumption by about two to three percent.

Some used cars from abroad come with a heavy bar attached to the rear for pulling boats and other heavy objects from where they have been imported which is hardly needed in this part of the world. It is advised that you remove them to avoid unnecessary weight.

Some people however believe that this serves as protection when another vehicle hits them from behind, unknown to them that they are paying more to fuel their cars. Lighten your load and remove extra weight from the car. Less weight means better fuel economy.

•Also, reduce drag by removing roof racks as they increase wind resistance which wastes fuel.

•Use your air-conditioning system. Driving with an air-conditioner has an advantage to fuel economy but most drivers think otherwise.

Apart from keeping the interior of your car clear of dust and ensuring the safety of the driver from attacks, it also saves fuel. Driving with windows down at a speed faster than 80km/h causes a lot of wind resistance and more fuel consumption. It is more fuel efficient to drive with your air-conditioner on.

•Maintain the right speed. Avoid over speeding and going slowly too.

While both have safety consequences, they also have an impact on your fuel consumption. It has been established that on highways, your engine works hard to overcome wind resistance.

This means that you will burn up to 15 per cent more fuel at 100km/h and 25 per cent more at 110km/h. On the other way round, if you drive at a speed slower than 50km/h your engine would drop to a lower gear thus using up more fuel. It is advised that driving between 50km/h and 90km/h gives optimal fuel efficiency.

•Many people accelerate their cars as if they are running at Formula 1 Race thereby wasting their fuel unknowingly. Avoid revving your accelerator to a high revolution per minute (RPM). Your engine uses less fuel when it is revolving slower at a lower RPM.

•It is also important to note that aggressive braking is not only a disadvantage to the brake pad but increases fuel consumption.

Slamming on the brakes increases fuel consumption as the car needs to accelerate again. Give a reasonable distance between you and the vehicle in front of you. If you have been driven by a pilot before, you would understand what it means to drive with caution.

READ ALSO:

• 10 ex-Buhari’s ministers to dump APC for SDP
• FG refutes US Congress claim of terrorists targeting Nigeria’s Christians
• Jimoh Ibrahim speaks on Senator Natasha’s petition to IPU

They are very cautious of the vehicles in front of them and avoid them from afar. I am sure that if we take count of professionals who hardly get involved in traffic accidents, the pilot would take the number spot.

•Avoid hard acceleration when moving your car from complete stop or climbing hills as it increases fuel consumption. Most people who drive vehicles with automatic transmission hardly know the advantage of one special feature in the car called cruise control.

If you are driving an automatic car, you can make use of cruise control to keep your speed constant. But if you are driving a manual car, maintain a higher gear when appropriate. This ensures that your engine goes through less revolutions per minute, RPM and ensures less fuel consumption.

•Driving in traffic causes higher fuel consumption. Stop-start traffic puts a lot of pressure on your engine and burns more fuel. Avoid peak traffic if possible. Turn off your engine when it is parked. As long as your engine is on, the fuel is burning. The choice is yours to keep the engine steaming when that car is not moving. It is your fuel that is burning which you can use to cover some kilometers.

•Regular servicing with quality engine oil is key to the longevity of your engine. If your engine is poorly maintained, it will lead to sludge and corrosion build-up which will prevent the engine from working smoothly. Regular maintenance is key.

•Follow your vehicle’s schedule, a healthy engine works better. A clean air filter lets the engine breathe freely. Good airflow improves fuel use. Use the right oil type to reduce friction and boost engine performance. When buying a new car, think about fuel efficiency. Pick a model that fits your needs. If your car has a fuel-saving mode, then use it.

How to lower fuel consumption of your car

Vanguard