Fidelia Soriwei, Abuja
The Federal Government, in partnership with the Nigerian Consumer Credit Corporation (CREDICORP), has commenced the distribution of Compressed Natural Gas (CNG)-powered tricycles to young Nigerians under a loan scheme designed to promote entrepreneurship, job creation and affordable transportation.
The programme, launched in Yola, Adamawa State, allows beneficiaries to acquire the tricycles through an instalment payment arrangement, providing access to income-generating assets while easing the burden of rising transportation costs.
Speaking during the distribution exercise, Managing Director of Sub City Project Global Consult, one of the programme’s key partners, Imam Umar, said the initiative aligns with the Federal Government’s youth empowerment and economic development objectives.
“It is my great pleasure and honour to welcome you all to this important occasion here in Adamawa State, organised by Credicorp in partnership with Sub-city Project Global Consult, as part of the Federal Government’s initiative to empower Nigerian youths through mobility services and sustainable economic opportunities.
“Today, we are here to support our young people by providing tricycles on an instalment payment arrangement, giving beneficiaries the opportunity to own productive assets, create employment opportunities, generate income, and build a more sustainable future for themselves and their families.”
Umar said the programme goes beyond vehicle distribution, noting that it is intended to equip young people with the resources and confidence needed to achieve economic independence.
He urged beneficiaries to make responsible use of the tricycles and comply with the scheme’s conditions to ensure its sustainability.
“Use the tricycle responsibly, comply with the terms of the program, prioritise safety, and ensure timely instalment payments so that the scheme can reach more young Nigerians,” he said.
Representing Governor Ahmadu Fintiri at the event, Commissioner for Transportation, Mrs Rumpe Anthony, praised CREDICORP for expanding access to consumer credit and productive asset financing for youths in Adamawa State.
She said more than 300,000 Nigerians had already benefited from CREDICORP-backed credit facilities for essential and income-generating assets, including vehicles, digital devices, solar solutions and work tools.
“The introduction of these CNG-powered three-wheelers demonstrates what is possible when government, development finance institutions, financial institutions, manufacturers, vendors and beneficiaries come together,” Anthony said.
According to her, affordable access to finance can help young people acquire productive assets, build businesses, increase household income and improve living standards.
She added that the adoption of CNG-powered transportation supports the transition to cleaner mobility solutions while addressing the economic realities facing transport operators and commuters.
Anthony noted that improved access to consumer and productive asset financing could also support growth in other sectors, including agriculture and renewable energy, while strengthening economic opportunities across communities.
