The statement explained that a portion of the fund would be dedicated to supporting the adoption of auto-gas and electric vehicles, marking a strategic move towards a revolution in the mass transit sector.

The statement says, "Indeed, the Presidential CNG Initiative is being seeded with N100 billion under the palliative program, and designed to catalyze an Auto-gas and EV revolution in the mass transit and transportation sector."

“The plan includes leveraging over 11,500 CNG and electric fueled vehicles, as well as the deployment of 55,000 conversion kits to ultimately reduce the cost of transportation for Nigerians and alleviate the rising cost of living.”

The statement further noted that, “In line with the Renewed Hope Agenda, the PCNGi is committed to delivering on the President’s vision without any distraction under the able leadership of its steering committee led by FIRS Chairman, Zacch Adedeji and his colleagues

“We are delighted to reassure Nigerians that the program is on course to deliver on these objectives going by the milestones achieved by the PCNGi in the last few weeks which, they said include strategic technical partnerships and the ongoing commissioning of several CNG Conversion centers in key States across the country including Lagos, Abuja, Kaduna, Ogun, and Rivers, with many others to follow in the next few weeks.”