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Innoson Vehicle Manufacturer Set To Supply CNG Vehicles

Published by admin on August 9th, 2024.

Innoson Vehicle Manufacturer Set To Supply CNG Vehicles

In a recent meeting with President Bola Tinubu at the Aso Rock Presidential Villa in Abuja, Innocent Chukwuma, founder and CEO of Innoson Vehicle Manufacturing, unveiled plans to launch a fleet of Compressed Natural Gas (CNG) buses aimed at providing more cost-effective transportation options for Nigerians.

During the Thursday meeting, Chukwuma encouraged the public to remain patient with the current administration. He expressed strong support for the Presidential CNG Initiative, calling it “the future of transportation in Nigeria.”

Chukwuma praised the benefits of CNG, noting, “The government’s push for CNG represents the most promising solution for our transportation sector. Recognizing its potential, we started producing CNG kits even before this initiative was announced.”

He highlighted that Innoson Vehicle Manufacturing was already ahead of the curve in producing CNG-powered vehicles, a step taken well before the official rollout of the initiative. “Those who experience CNG will see it’s the way forward for our nation,” he asserted.

This meeting comes shortly after President Tinubu’s nationwide address, where he outlined plans to distribute up to one million CNG kits at little or no cost to commercial vehicles. These vehicles, which are crucial for transporting people and goods, currently account for 80% of the nation’s imported Premium Motor Spirit and Automotive Gas Oil.

In his address, President Tinubu criticized Nigeria’s heavy reliance on imported petrol despite its substantial oil and gas reserves. He stressed the importance of leveraging domestic gas resources to bolster the economy, projecting that the CNG initiative could save the country up to N2 trillion monthly.

The President emphasized that adopting CNG would reduce reliance on expensive petrol imports, thereby freeing up resources for investment in vital sectors such as healthcare and education. “This shift will not only cut down on our import costs but also allow us to reallocate funds towards more critical needs,” Tinubu concluded.