The minister of state for Petroleum (Gas), Ekperikpe Ekpo, has described the ride hailing sector as a vital part of Nigeria’s urban transportation system, adding that CNG adoption will help the country to utilise its abundant natural gas reserves as a key player in the global energy landscape.
“The rideshare sector is a vital part of our urban transportation system, providing flexible and cost-effective mobility solutions to millions of Nigerians, particularly our youth,” he said in a statement signed by Taiwo Fashipe, communications director, Presidential Initiative on Compressed Natural Gas (PCNGI).
The minister stated this during the recent launch of the Rideshare CNG conversion incentive programme and MYCNG APP in Abuja. He stated that the rising cost of fuel posed a significant challenge to drivers and passengers, often leading to higher fares and reduced access to affordable transportation.
“The CNG Conversion Incentive Programme, in conjunction with the MYCNG APP, is a bold response to these challenges. By offering a 50 percent discount for rideshare drivers upon sign-up and scheduling through the MYCNG APP,” he stated.
He disclosed further that the government is not only making CNG a more viable option but also easing the financial burden on drivers, which he said will translate to more affordable transportation options for users.
Ekpo noted that the My CNG App is not just a tool for accessing discounts but a gateway to a more sustainable livelihood, and urged ride hailing drivers to take full advantage of the opportunity.
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Michael Oluwagbemi, programme director/CEO, PCNGI, stated that the launch is part of the PCNGI move to lower the cost of fare charged by e-hailing taxis with a 50 percent conversion discount to Compressed Natural Gas (CNG).
He further disclosed that the MYCNG APP is a one-stop solution for convenient and eco-friendly fueling options and can be downloaded on Google Playstore for Android users and Apple Store for IPhone users.
“We know that transportation is responsible for about 14 to 15 percent of an average family’s spending. It contributes about 1.5 percent to the overall economy, with an average of 5.1 percent growth on a year-to-year basis,” Oluwagbemi stated.
He further pointed out that vehicle-to-population ratio in Nigeria is about 60 vehicles to 1,000 people with 41.1 percent, where about 12 million vehicles are privately owned, and vehicle ownership concentrated in the urban areas.
“This means that the real opportunity for moving people around in an environment where there is no vehicle ownership is this ride-share technology that has become available across the land in the last 10 years,” Oluwagbemi stated.
