President Bola Tinubu has firmly ruled out any return to the petrol subsidy regime, declaring that Nigeria must instead accelerate its transition to Compressed Natural Gas (CNG) and other affordable energy alternatives to shield the economy from global fuel-price shocks.
Speaking during an update on the National Affordable CNG Transit Programme, the President emphasized that Nigeria’s status as a gas-rich nation provides a unique opportunity to insulate citizens from the disruptions currently driving up transportation costs worldwide.
“At a time like this, our answer cannot be to return to the ruinous petrol subsidy regime that consumed trillions of naira and left our economy exposed to every movement in international oil prices, as some have suggested,” Tinubu stated. “We must accelerate the cheaper alternatives we have been building at home.”
The President’s declaration comes as the Federal and State Governments prepare to implement targeted measures aimed at delivering measurable reductions in transportation costs starting October 1. Following a strategic meeting with the 36 state governors on August 27, an implementation committee was established under the Nigeria Governors’ Forum, chaired by Kwara State Governor AbdulRahman AbdulRazaq. Working alongside the Presidential Initiative on CNG and Electric Vehicles (PI-CNG & EV), the committee is actively identifying priority transport corridors and deploying necessary interventions.
Tinubu highlighted that the administration has spent the past three years deliberately constructing a nationwide CNG transportation ecosystem. The results, he noted, are already tangible. More than 120,000 vehicles have been converted, supported by over 400 certified conversion centres and 90 CNG refuelling stations, with these numbers expanding daily.
“These are not projections. Nigerians are already experiencing these savings,” the President asserted, pointing to specific state-level successes. In Borno, CNG-powered public transport services are moving commuters for between N50 and N100 on routes where commercial operators charge up to N600. In Kaduna, 100 CNG-powered buses provided free transportation on major routes in their first year, carrying 3.2 million passengers and saving commuters over N3.5 billion. Similarly, CNG buses deployed in Oyo State slashed the Lagos-Ibadan fare from approximately N8,000 to N3,200.
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Despite these gains, Tinubu stressed that more aggressive action is required. He urged state governments to sustain the momentum, collaborate with transport unions, support fleet deployment, and facilitate the infrastructure needed to expand alternative-energy transportation. The central objective, he reiterated, is to ensure that the savings generated from cheaper energy are directly passed on to Nigerians through lower daily fares.
“Nigeria has the gas. We are building the infrastructure. We are already seeing the savings,” Tinubu concluded. “Now we must move faster and scale this so that more Nigerians feel those savings in the fares they pay every day.”
As global energy pressures mount, the administration’s unwavering stance signals a definitive break from the past. By leveraging domestic resources to build a more resilient transportation system, the government aims to prove that the path to economic stability lies in innovation and scale, rather than a return to the fiscally draining policies of yesterday.
Promise Idoko is Junior Reporter working with moderncrux He covers global politics and international affairs. Based in Nigeria,
