The federal government, through the Nigerian Consumer Credit Corporation (CREDICORP), has rolled out 120 Compressed Natural Gas (CNG)-powered tricycles to young operators in Adamawa State.
The vehicles, made available under CREDICORP’s national mobility programme, were commissioned in Yola for distribution to young operators under a consumer credit scheme in which operators would pay for the vehicles in instalments.
The scheme, designed to empower young beneficiaries through asset ownership and provide mobility at reduced cost to commuters, places ownership in the hands of the operators, marking a shift from the practice of businessmen acquiring vehicles and hiring riders to operate them.
Representing Governor Ahmadu Umaru Fintiri at the commissioning of the tricycles at the Mahmud Ribadu Square in Yola, the Adamawa State Commissioner for Transport, Mrs Wunfe Anthony, described the initiative as an investment in young people’s livelihoods and strong support for the state’s transition towards cleaner and more affordable transport.
Also speaking, the Managing Director of CREDICORP, Engr Uzoma Nwagba, said the Yola activation of the nationwide mobility programme marked CREDICORP’s inaugural deployment of CNG-powered three-wheelers, aligning CREDICORP’s consumer credit mandate with the Federal Government’s energy transition agenda.
‘The CNG vehicles being deployed today represent our commitment to reaching Nigerians in every part of the country,’ Nwagba said.
The rollout of the 120 tricycles in Adamawa State is driven by CREDICORP, which provided the financing framework; the Letshego Microfinance Bank and Accion Microfinance Bank, which administered the credit; the DAG Bajaj, which supplied the locally assembled CNG three-wheelers; and Sub-City Global Consult, which mobilised beneficiaries.
The Chief Executive Officer of Sub-City Global Consult, Malam Imam Tolihat Umar, said the partnership was designed to empower young Nigerians with productive assets that could help them become economically independent.