Individuals
Businesses
Company
Intelligence
News
African Capital Markets
EnglishEnglish
share on twittershare on linkedinshare on facebookshare to whatsapp
share on mail
share on instagram

Nigerian Mobility Startup Shuttlers Adds CNG Buses to Fleet

Daba Finance/Nigerian Mobility Startup Shuttlers Adds CNG Buses to Fleet
STARTUP VENTURE CAPITALApril 3, 2025 at 9:59 PM UTC

TLDR

  • Shuttlers, a Nigerian mobility startup, deployed 20 compressed natural gas (CNG) buses in the first quarter of 2025
  • The CNG buses completed 1,484 trips and served 19,292 passengers, accounting for 4% of the company’s total user trips in Q2
  • Shuttlers equipped the buses with fireproof canisters and automatic extinguishers. The company reported no safety incidents in Q1

Shuttlers, a Nigerian mobility startup, deployed 20 compressed natural gas (CNG) buses in the first quarter of 2025, resulting in a 29% drop in rider costs and a reduction of 23.5 metric tons in carbon emissions, according to CEO Damilola Olokesusi.

The CNG buses completed 1,484 trips and served 19,292 passengers, accounting for 4% of the company’s total user trips in Q2, the CEO said in a LinkedIn post. The rollout comes as Nigeria faces rising petrol costs following the removal of fuel subsidies in 2023. The price of petrol has more than tripled, pushing transport operators to explore lower-cost alternatives. CNG is less expensive and emits fewer pollutants than petrol.

Shuttlers equipped the buses with fireproof canisters and automatic extinguishers. The company reported no safety incidents in Q1. The Lagos-based startup raised $4 million in 2023 and plans to expand its alternative-fuel fleet in Q2 2025.

Daba is Africa's leading investment platform for private and public markets. Download here

Key Takeaways

Nigeria’s transport sector has been under pressure since fuel subsidies were scrapped in May 2023. Petrol prices rose from ₦185 to over ₦650 per litre, sharply increasing operating costs for transport providers. As a result, shared mobility companies like Shuttlers are shifting to CNG to protect margins and keep fares affordable. CNG, which sells at around ₦250 per standard cubic meter, offers a cheaper and cleaner solution. However, infrastructure for refueling remains limited. The Nigerian government has launched a Presidential CNG Initiative to support adoption, including plans for conversion centers and refueling stations nationwide. Shuttlers’ use of CNG reflects early progress from the private sector. If scaled, it could drive both environmental and economic benefits while reducing dependence on petrol. The company's early success could influence broader adoption among commercial fleets and public transport operators facing similar cost pressures.

Startup
Mobility
Shuttlers
Nigeria
CNG

Think someone else should see this?

share on twittershare on linkedinshare on facebookshare to whatsapp
share on mail
share on instagram
Stay informed with our newsletters read by 25,000+ professionals worldwide
Newsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companies

Next Frontier

Stay up to date on major news and events in African markets. Delivered weekly.

Pulse54

UDeep-dives into what’s old and new in Africa’s investment landscape. Delivered twice monthly.

Events

Sign up to stay informed about our regular webinars, product launches, and exhibitions.

+25k investors have already subscribed

To invest in this opportunity and other opportunities across Africa

Download the daba finance app on your mobile through
appstore iconappstore icon
Phone Image

Take action.

Download app

Start investing in Africa’s best opportunities, including stocks, bonds, startups, venture funds, and more.

Partner with us

Unlock exciting business opportunities and growth potential.

Join Daba

Become a part of our vibrant community and enjoy exclusive benefits.

Contact us

Reach out to us for inquiries, support, or collaboration.
For Investor
StrategiesPortfolio ManagementAfrican Capital MarketsNews
Daba Pro Intelligence
For Capital Seekers
For StartupsFor Fund ManagersFor Private CompaniesFor Lenders
For Partners
Commercial BanksBroker DealersAsset ManagersInvestment BanksInvestment Advisors and ConsultantsLenders and Microfinance
Company
About UsMarket UpdatesEventsBlog and PodcastNewsletterCase StudiesAffiliate ProgramInvesting GlossaryOfficial ContactsTrust, Compliance and SecurityFrequently Asked Questions

Terms & ConditionsPrivacy Policy
EnglishEnglish

Owned by Daba Markets Inc. By using this site, you accept our Terms and Conditions and Privacy Policy. © 2024 All rights reserved. 2025 All rights reserved