President Bola Ahmed Tinubu and state governors have agreed to take immediate steps to reduce transportation fares nationwide, with a focus on cheaper fuel alternatives such as Compressed Natural Gas (CNG) and electric vehicles.

Tinubu announced the agreement after meeting with the Governors’ Forum in Abuja, stressing that savings from cheaper fuel must translate into lower transport costs for Nigerians.

The President said more than 120,000 vehicles have already been converted to CNG under the Presidential CNG Initiative, with over 100,000 additional conversion kits in production. He added that the Federal Government is funding more than 100 gas projects and has approved the rollout of 1,000 CNG refuelling stations nationwide.

According to Tinubu, vehicles powered by CNG spend 60 to 80 per cent less on fuel than petrol-powered vehicles.

He said a joint Federal and state committee would immediately begin implementing the measures, with the goal of ensuring Nigerians start benefiting from lower transport fares from October 1, 2026.