President Bola Tinubu has promised to roll out buses across the States and local governments for mass transit at a much more affordable rate.
He said his administration has made provision to invest N100 billion between now and March 2024 to acquire 3000 units of 20-seater CNG-fueled buses.
Tinubu said that these buses will be shared to major transportation companies in the states, using the intensity of travel per capital.
“Participating transport companies will be able to access credit under this facility at 9% per annum with 60 months repayment period.
READ ALSO: Full Text Of Tinubu’s National Broadcast To Nigerians
“Sadly, there was an unavoidable lag between subsidy removal and these plans coming fully online. However, we are swiftly closing the time gap. I plead with you to please have faith in our ability to deliver and in our concern for your well-being,” he said.
He promised that the country will soon get out of its current turbulence, saying, “And, due to the measures we have taken, Nigeria will be better equipped and able to take advantage of the future that awaits her.”
“In a little over two months, we have saved over a trillion Naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters.
“That money will now be used more directly and more beneficially for you and your families.”