President Bola Tinubu has announced a groundbreaking plan to deploy thousands of affordable mass transit buses across states and local governments in an ambitious move to alleviate the impact of petrol subsidy removal on Nigerians.
These buses, totalling 3,000 units of 20-seater vehicles running on compressed natural gas (CNG), will revolutionize public transportation and make commuting more accessible to the people.
President Tinubu assured that his government had earmarked a substantial investment of N100 billion between now and March 2024 to fund the purchase of these buses. The initiative will collaborate with major transportation companies in each state, distributing the buses based on travel intensity per capita.
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Furthermore, to support the participating transport companies, the government has offered access to credit at an attractive interest rate of 9% per annum, with a reasonable 60-month repayment period.
President Tinubu empathized with the Nigerian workers and labour unions, acknowledging the current challenges. He revealed that he is working closely with the unions to introduce a new national minimum wage to ensure workers’ salaries are fair and just. Once an agreement is reached, the President assured that immediate budget provisions will be made for its implementation.
While admitting that the transition period might be difficult, President Tinubu urged Nigerians to focus on the bigger picture and embrace the positive impact of these reforms. He emphasized that the government is diligently working to bridge the gap between subsidy removal and implementing these plans.
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“I plead with you to please have faith in our ability to deliver and in our concern for your well-being,” he further appealed, assuring citizens that the government’s good and helpful plans are well underway and will undoubtedly yield positive results for the nation.
With these visionary initiatives, President Bola Tinubu demonstrates his commitment to a brighter future for Nigeria, fostering affordable transportation and better living conditions for all citizens.
