Fuel subsidy removal: FG to cut transportation cost by 50% – Information Minister
The Nigerian Federal Government is actively pursuing a goal to cut transportation costs by more than 50%, according to the Minister of Information and National Orientation, Mohammed Idris.
He shared this during a meeting with the National Executive Committee of the Independent Petroleum Marketers Association of Nigeria (IPMAN) in his office on Thursday. Idris highlighted the government’s focus on achieving this reduction through the CNG Initiative.
The minister noted that President Tinubu’s decisive action in removing the fuel subsidy has opened a distinctive chance for entities like IPMAN to spearhead the transformation of Nigeria’s energy landscape.
Emphasizing the nation’s quest for alternative means to reduce transportation costs, he identified CNG as the most viable pathway forward.
He said;“In the wake of the removal of fuel subsidy, of course, it was expected that the price of PMS would go up. This will in turn affect the transportation costs for Nigerians going to and fro their various places of work,” he said.
“The Federal Government immediately thought it wise, in addition to other measures, to introduce the CNG. The CNG is expected to bring down the cost of transportation by more than 50 per cent and I am happy that IPMAN is in the forefront in this vanguard of achieving the CNG Initiative,” he said.
