By Moses Akaigwe


(L-R): Chidi Ajaere, founder/Chairman, Jet Motor Company; Sanjay Rupani, Chief Operating Officer, Jet Motor Company; and Wale Edun, Minister of Finance and Co-ordinating Minister of Economy during the minister’s tour of Jet Motor Company in Lagos on Friday, May 10, 2024.


Nigeria’s Finance Minister, Wale Edun, has assured that the Presidential Initiative on Compressed Natural Gas of the current administration is on course, and that the CNG vehicles were being rolled out for the benefit of all Nigerians.

The minister who stated this during a visit to the Jet Motor Company plant in Lagos on Friday explained that the CNG vehicles being produced locally are finished products that can’t be taken off the shelf, but have to be assembled.

“I have come to see what is happening with the CNG Initiative. Where are the buses Nigerians have been asking for? I have seen for myself, I have driven them; tested them and I have seen them being assembled. Of course, in the near future, they will begin to be rolled out and the benefits will be available to all Nigerians.

“The initiative is reducing transport costs. It is also helping to grow the economy. So we see, two critical aims are being achieved.”

Edun commended the management of Jet Motor Company for their contribution towards deepening local automotive productive capacity.

He highlighted JET Motors dedication to employing local talent which underscored their belief in empowering communities and contributing to Nigeria’s economic prosperity, while assuring them of continued government support.

The minister’s visit to Jet Motors, one of Nigeria’s foremost indigenous electric vehicle manufacturing plants, showcases Nigeria’s capacity to meet the growing demand for environmentally-friendly vehicles.

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The visit is also seen as part of efforts to engage with local producers, lay out government’s local industry support plans, and build a broad-based partnership with key industry leaders towards accelerating expansion of local capacity, job creation, and economic growth.

The minister was accompanied on the tour by the Director-General of the National Automotive Design and Development Council (NADDC), Joseph Osanipin, and Tosin Coker, Commercial Director PCNGI.

They were received by the visionary founder and chairman, Jet Motor Company, Chidi Ajaere; CEO, Engr Derek Ewelukwa; Sanjay Rupani, Sales Director; and Ebimo Ofongo, Plant Manager.

Welcoming the minister to the plant, Ajaere stated that the Jet Motors Company “now has the ability to assemble full CNG and petrol buses and also convert petrol vehicles to CNG.

We have capacity to do that today”.

Speaking at the event, Ewelukwa  expressed his appreciation to the minister and his team for the honour done the organization by their visit, and thanked the Tinubu administration for its intentional efforts geared towards supporting local industries, particularly the automotive sector, through direct interventions and the programmes of the NADDC.

“We are proud to be an indigenous company. We have always wanted to prove that it was possible to do it here. To build here. To create value here. To export value from here. This is what we are doing”, he noted.

Ewelukwa revealed that the company had recently begun substantially investing in the production of CNG vehicles, in line with the policy direction of the Tinubu administration against the backdrop of reforms impacting the local energy market. “We are an agile company; we continue to adapt to new realities and expand our offerings within the clean energy niche of the mobility market”, he said. 

On his part, the NADDC boss expressed his pride that a truly indigenous company was accomplishing the vision of the agency through local automobile manufacturing.

“We have seen your efforts and are truly proud of all you are accomplishing in the market. This is what we have always worked towards, and even much more right now with our renewed efforts under this administration. Sustainable mobility is the future, and we will work closely with you and other indigenous automotive manufacturers to achieve this for Nigeria”.

As a leader in indigenous auto manufacturing, JET Motor Company specialises in building Electric Vehicles (EV), including vans, pickups and CNG/petrol buses  tailored to meet Africa’s unique transportation needs.

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