Finance minister and coordinating minister of the economy, Olawale Edun, has visited the JET Motor Company (JET) Assembly Plant in Lagos, where Compressed Natural Gas (CNG) buses are being assembled under the Presidential CNG Initiative.
Senior special assistant media and publicity to President Bola Tinubu, Temitope Ajayi, said JET, which is located in Lagos, is one of the four assembly plants picked by the PCNGi to assemble semi knocked down components of climate friendly CNG and electric buses and tricycles, which will soon be rolled out to slash transportation costs.
He said JET also has capacity to convert petrol buses to CNG.
After going round the JET plant on Friday, Edun expressed satisfaction about the progress of work at the assembly.
He said though the PCNGi had taken time to be actualised, the benefits would soon be available to Nigerians.
“I have come to see the CNG buses that Nigerians are asking about. I have seen them. I have tested them and driven them. I have seen them being assembled. The benefits will soon be available to Nigerians,” Edun said.
He said the PCNGi is about mass transit that is affordable.
“Two critical aims will be achieved. Whereas it costs about N55,000 to fill a 15-20 seater bus with petrol, it will cost between N12,000 and N15,000 to fill a CNG bus of the same capacity. This is three times, if not four times less. This is a huge saving that will help reduce transport costs and at the same time, help reduce inflation,” he said.
Edun praised JET’s employment of local talents in the assembly of the vehicles.
The chairman and founder of JET, Chidi Ajaere, took the minister round during the visit.
Also present were the CEO of JET motor company, Engr Derek Ewelukwa and other members of the JET team, such as Sanjay Rupani of the Technical development department and Ebimo Ofongo, the plant manager.
