FG Begins CNG Tricycle Rollout for Youths Under CREDICORP Instalment Plan
By Aboki Forex —
The Federal Government has started distributing Compressed Natural Gas-powered tricycles to Nigerian youths under a financing arrangement that allows beneficiaries to pay in discounted instalments. The scheme is run by the Nigerian Consumer Credit Corporation (CREDICORP) with Sub-city Project Global Consult, and the distribution exercise took place in Yola, Adamawa State.
The programme is designed to give young Nigerians access to productive assets and to speed up the shift to alternative transport fuels. It also comes as petrol price increases continue to push up transport costs across the country.
How the tricycle financing works
Imam Umar, Managing Director of Sub-city Project Global Consult, said beneficiaries will take delivery of the tricycles on an instalment payment arrangement, so they can earn income while gradually taking ownership of the vehicles.
“Today, we are here to support our young people by providing tricycles on an installment 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.
He urged beneficiaries to use the tricycles responsibly, prioritise safety and meet their repayment obligations so the programme can reach more Nigerians. Empowerment, he said, should go beyond financial assistance by giving young people the tools and opportunities to become economically independent.
CREDICORP has enabled credit for over 300,000 Nigerians
Adamawa State Commissioner for Transportation, Mrs Rumpe Anthony, who represented Governor Ahmadu Fintiri at the event, commended CREDICORP for facilitating access to financing for the CNG-powered tricycles. She said the corporation had enabled more than 300,000 Nigerians to access consumer credit for productive and essential assets, including vehicles, digital devices, solar solutions and work tools.
Anthony said the tricycle programme demonstrated the potential impact of collaboration between government, financial institutions, manufacturers, vendors and beneficiaries.
“When properly structured, access to affordable credit can give a young person the opportunity to own a productive asset, earn an income, build a business and improve the welfare of their family,” she said.
She also highlighted the potential benefits of CNG in Nigeria's transportation sector, describing it as an opportunity to move toward cleaner, potentially more efficient mobility. Transport matters greatly in Adamawa, she noted, where residents depend on affordable mobility to connect communities, markets, businesses and households. The CNG tricycle rollout, she added, forms part of a wider effort to build a more affordable and sustainable transport system, and she said expanding structured consumer and productive-asset financing could benefit other Adamawa sectors, including agriculture and renewable energy.
What it means for transport costs
The CNG tricycle push fits into a broader federal effort to lower fuel costs for small transport operators. For drivers in Adamawa and other states, the instalment model cuts the entry barrier to owning a vehicle, though repayment discipline will decide how far the scheme scales.
Separately, the Federal Government has opened applications for a free digital and Business Process Outsourcing (BPO) training programme targeting 50,000 young Nigerians across the South-West. The initiative, under the Investment in Digital and Creative Enterprises (iDICE) Programme, is designed to equip participants with in-demand digital and outsourcing skills and create pathways to local and international employment.