The Oyo State Government has signed a landmark 20-year public-private partnership (PPP) with Atlas Core Energy & Logistics to accelerate the adoption of compressed natural gas (CNG) in the state’s transportation sector.
Under this partnership with Oyo State Pacesetter Transport Service (PTS), Atlas Core will construct and operate a state-of-the-art CNG refueling station at the PTS site in Ibadan. The company will also support the introduction of CNG-powered buses and oversee large-scale fleet conversions across Oyo State.
Pacesetter currently operates approximately 50 CNG-powered buses and plans to significantly expand its fleet in the near future.
The agreement, formalized through a 20-year Memorandum of Understanding (MOU), positions Atlas Core as a key private-sector partner supporting the Nigerian Federal Government’s Presidential Initiative for CNG (Pi-CNG) and Nigeria’s goal of achieving carbon neutrality by 2060.
Dr. Owoade Emmanuel, CEO of Atlas Core, highlighted the benefits of the collaboration: “Our partnership with Pacesetter Transport Service and this Memorandum of Understanding with the state of Oyo are concrete steps toward reducing transportation costs and CO₂ emissions. They demonstrate that the Pi-CNG initiative can be effectively implemented nationwide through public-private partnerships.”
Dr. Emmanuel added that the company is committed to building the necessary infrastructure for cleaner and more cost-effective transportation to reduce reliance on conventional fuels and lower operating costs for buses and logistics.
“The recent inauguration of a modern CNG infrastructure in Oyo demonstrates the strong public support for sustainable and efficient public transportation solutions,” he said.
Dikko Salami, President of PTS, represented Governor Seyi Makinde at the signing of the Memorandum of Understanding and emphasized that the development of CNG transportation reflects the government’s commitment to sustainable development and cost control.
“These 50 buses and the CNG refueling station are not just investments; they represent a cleaner, smarter, and more reliable future for Oyo State,” Mr. Salami stated.
Atlas Core reaffirmed its commitment to working closely with state authorities to ensure this partnership delivers tangible economic, environmental, and operational benefits for users, businesses, and the entire transportation sector.
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