Friday, October 10, 2025
  • About
  • Advertise
  • Careers
  • Contact
Newsroom Nigeria
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life
No Result
View All Result
Newsroom Nigeria
ADVERTISEMENT
Home Across the Nation

FINANCE MINISTER VISITS CNG MOTOR ASSEMBLY PLANT IN LAGOS, SAYS BENEFITS ARE MASSIVE 

Two critical aims will be achieved. Whereas it costs about N55,000 to fill a 15-20 seater buses with petrol, it will cost between N12-15,000 to fill a CNG bus of the same capacity. This is three times, if not four times less.

Newsroom Nigeria by Newsroom Nigeria
May 11, 2024
in Across the Nation
Reading Time: 2 mins read
0
SHARES
Share on FacebookShare on Twitter

Finance Minister and coordinating Minister of the Economy, Mr 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.

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.

Related posts

TINUBU ACCEPTS INEC CHAIRMAN’S DEPARTURE, BESTOWS NATIONAL HONOUR ON HIM

Viewpoint: Prof. Yakubu: Salute to Consolidation , Courage.and Innovation By Ezenwa Nwagwu

October 10, 2025
TINUBU PARDONS HERBERT MACAULAY, VATSA, LAWAN, GRANTS CLEMENCY TO 82 INMATES

TINUBU PARDONS HERBERT MACAULAY, VATSA, LAWAN, GRANTS CLEMENCY TO 82 INMATES

October 9, 2025

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 has taken time to be actualised, the benefits will 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 buses with petrol, it will cost between N12-15,000 to fill a CNG bus of the same capacity. This is three times, if not four times less.

Olawale Edun: Finance Minister

This is a huge savings that will help reduce transport costs and at the same time, help reduce inflation”.

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 on hand 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.

Present also were Tosin Coker, Commercial director PCNGi and Joseph Osanipin, Director General of the National Automotive Development and Design Council.

Ajaere commended President Bola Tinubu for his initiative in promoting local production of the CNG vehicles and the entire PCNGi team’s resolve to make the project a success.

JET was established in 2018 to build Electric Vehicles (EV) vans, pickups and CNG/Petrol buses tailored to meet Nigeria’s unique transportation needs.

The company aims to transition from Semi Knocked down components to completely knocked Down components in the next three to four years.

 

 

ShareTweetSendShareShare
Previous Post

WEMA BANK UNVEILS NEW DIGITAL SOLUTION FOR COOPERATIVE SOCIETIES

Next Post

Freight forwarders Lament Loss of N193M Daily, Drag Web Fontaine to Finance Minister

Related Posts

TINUBU ACCEPTS INEC CHAIRMAN’S DEPARTURE, BESTOWS NATIONAL HONOUR ON HIM
Across the Nation

Viewpoint: Prof. Yakubu: Salute to Consolidation , Courage.and Innovation By Ezenwa Nwagwu

October 10, 2025
TINUBU PARDONS HERBERT MACAULAY, VATSA, LAWAN, GRANTS CLEMENCY TO 82 INMATES
Across the Nation

TINUBU PARDONS HERBERT MACAULAY, VATSA, LAWAN, GRANTS CLEMENCY TO 82 INMATES

October 9, 2025
HE WAS THE FINEST OF MEN, AND WAS EXCEPTIONALLY BRILLIANT, SAYS TINUBU IN TRIBUTE TO THE LATE DR CHRISTOPHER KOLADE
Across the Nation

HE WAS THE FINEST OF MEN, AND WAS EXCEPTIONALLY BRILLIANT, SAYS TINUBU IN TRIBUTE TO THE LATE DR CHRISTOPHER KOLADE

October 9, 2025
NATIONAL COUNCIL OF STATE UNANIMOUSLY APPROVES APPOINTMENT  AMUPITAN AS INEC CHAIRMAN
Across the Nation

NATIONAL COUNCIL OF STATE UNANIMOUSLY APPROVES APPOINTMENT  AMUPITAN AS INEC CHAIRMAN

October 9, 2025
10th African Brands Congress 2025 On October 13th
Across the Nation

10th African Brands Congress 2025 On October 13th

October 8, 2025
TINUBU ACCEPTS RESIGNATION OF GEOFFREY NNAJI AS MINISTER
Across the Nation

TINUBU ACCEPTS RESIGNATION OF GEOFFREY NNAJI AS MINISTER

October 7, 2025
Next Post

Freight forwarders Lament Loss of N193M Daily, Drag Web Fontaine to Finance Minister

RECOMMENDED NEWS

JUNE 12: GROUP TO HONOUR TINUBU, ENAHORO, BEKO, UBANI, OTHERS

2 years ago

NDLEA Burns1.8 tons of cocaine, as Marwa Promises Drug Cartel Tough Time

3 years ago

BAUCHI GOVERNOR HAILS JULIUS  BERGER AS THE BEST CONSTRUCTION COMPANY IN NIGERIA

4 years ago
Speaker Obasa Felicitates Remi Tinubu at 65, Hails ‘Renewed Hope Initiative’ Impact

Speaker Obasa Felicitates Remi Tinubu at 65, Hails ‘Renewed Hope Initiative’ Impact

3 weeks ago

FOLLOW US

ADVERTISEMENT
ADVERTISEMENT

POPULAR NEWS

  • NATIONAL COUNCIL OF STATE UNANIMOUSLY APPROVES APPOINTMENT  AMUPITAN AS INEC CHAIRMAN

    NATIONAL COUNCIL OF STATE UNANIMOUSLY APPROVES APPOINTMENT  AMUPITAN AS INEC CHAIRMAN

    0 shares
    Share 0 Tweet 0
  • South Rejected Tinubu in 2023, North and South Will Reject Him in 2027 — Gbenga Hashim’s Group

    0 shares
    Share 0 Tweet 0
  • TINUBU ACCEPTS INEC CHAIRMAN’S DEPARTURE, BESTOWS NATIONAL HONOUR ON HIM

    0 shares
    Share 0 Tweet 0
  • TINUBU PARDONS HERBERT MACAULAY, VATSA, LAWAN, GRANTS CLEMENCY TO 82 INMATES

    0 shares
    Share 0 Tweet 0
  • TINUBU ACCEPTS RESIGNATION OF GEOFFREY NNAJI AS MINISTER

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
Newsroom Nigeria

The NEWSROOM NIGERIA is an independent, liberal on – line news platform committed to the right of the individual to pursue his economic happiness, without undue interference of the state. It shall promote the rights of the individual; right to freedom of worship and conscience, and to hold opinions and impact same without hindrance, subject to such laws are as consistent with the constitution and necessary for the protection of the rights of others.

  • About
  • Advertise
  • Careers
  • Contact

© 2025 Newsroom Nigeria - Designed by Semasir Connect.

No Result
View All Result
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life

© 2025 Newsroom Nigeria - Designed by Semasir Connect.