Tinubu assures Nigerians CNG, other initiatives will boost industrialisation, prosperity

President Bola Tinubu on Thursday assured Nigerians the Compressed Gas Initiative (CNG) and programmes of his administration would boost industrialisation and prosperity.

Tinubu gave the assurance while declaring open the 2024 All Nigeria Editors Conference in Yenagoa, Bayelsa.

The president, who was represented at the event by the Minister of Information and National Orientation, Mohammed Idris, said the initiatives were yielding fruits and aimed to diversify the economy.

He said: “While oil remains a significant source of revenue for Nigeria, we are investing heavily in other sectors to diversify our economy for sustainable growth.

“The launch of the Presidential Initiative on CNG is a deliberate strategy to harness our abundant gas resources.

“This is to bring down the high cost of transportation by about 60 percent and also foster a clean and healthy environment for our citizens.

“This initiative has unlocked close to $200 million in private sector investments in the last one year.”

READ ALSO: Tinubu unveils fuel price template: Petrol sells at N1,000/litre, CNG N200

He stressed that his administration prioritised the development of roads and railways as well as the upgrading of the ports to unlock economic opportunities.

Tinubu said the infrastructure projects would not only create jobs but would also lower the cost of doing business and enhance Nigeria’s attractiveness as an investment destination.

The president said the media industry was expected to take advantage of opportunities provided by his administration.

“You can also access funds from the Bank of Industry at a single-digit interest rate for the development and expansion of your business.

“Our goal is to ensure that the benefits of growth reach every Nigerian, especially those who have been marginalised.

“The Social Investment Programme has been retooled to ensure economic relief is provided for our most vulnerable groups systematically and transparently.

“At the last count, 25 million Nigerians received N25,000 under the Conditional Cash Transfer,” President Tinubu stated.

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