President Bola Tinubu has said the Federal Government waived more than ?3.3 trillion in fuel taxes and duties to cushion the impact of rising petrol prices, while expanding alternative-fuel transportation schemes to reduce fares for Nigerians.
Tinubu also disclosed that NNPC Retail was foregoing its profit margin for 30 days, with public transport operators receiving priority, as the government worked towards a ?1,350-per-litre ceiling on wholesale petrol supply costs.
The President stated this in a message posted on his official X account, where he highlighted reported savings by commuters and transport operators using compressed natural gas (CNG) and electric vehicles.
He cited the experience of Blessing, whose transport fare from Masaka to Berger in the Federal Capital Territory had reportedly dropped from ?1,500 to ?500, saving her ?1,000 per trip.
Tinubu also referenced Ada and Abigail, who now reportedly pay ?1,600 instead of ?4,000 for journeys between Enugu and Nsukka, saving ?2,400 on each trip.
He further cited Kabir, a taxi driver who said ?10,000 worth of CNG enabled him to make three additional return trips compared with colleagues using petrol.
According to the President, some commuters in Borno State were also paying as little as ?50 per trip on CNG-powered and electric vehicles.
Tinubu said the experiences reflected the objective of government investment in alternative-fuel transportation: reducing operating costs for transporters and translating the savings into more affordable fares for passengers.
Acknowledging the difficulties households faced following the removal of the petrol subsidy, he said the government had a responsibility to provide practical alternatives to ease transportation costs.
On efforts to expand access, Tinubu said the Federal Government was working with state governments through the Nigeria Governors’ Forum and private investors under the National Affordable CNG Transportation Programme.
He disclosed that Ekiti State had received 15 buses, Lagos 20, while Akwa Ibom had 50 buses ready for service. Katsina had introduced 30 CNG hybrid buses and 200 electric tricycles, while Kano had received 30 CNG buses and five electric buses. Another rollout was planned for Edo State.
Tinubu added that Kaduna’s 100 CNG buses had carried more than three million passengers, while over 400 certified conversion centres had converted more than 120,000 vehicles to CNG. He said refuelling infrastructure was also being expanded.
The President said the government would continue working with state governments to make affordable transportation available to more communities, stressing that policy commitments must be backed by sustainable funding and credible implementation plans.