From Joy Dennis, Yola.

In line with its determination to promote cleaner transportation and enhance productivity, the Federal Government in partnership with Governor Ahmadu Fintiri administration in Adamawa State have formally launched 120 CNG-powered vehicles.

The project comes under the Federal Government-backed credit initiative is geared towards expanding access to productive assets.

Speaking during the Launching and presentation of the CNG tricycles, the state Commissioner for Transportation, Wunfe Anthony who represented Governor Ahmadu Umaru Fintiri at the event, said the initiative marked another milestone in the state’s efforts to promote sustainable transportation, create economic opportunities and improve access to affordable finance for commercial transport operators.

According to her, the introduction of CNG vehicles would enable beneficiaries to own productive assets while reducing transportation costs, adding that the CNG offered an opportunity for Adamawa transition towards cleaner and potentially more efficient transportation while supporting the livelihoods of people engaged in the sector.

The commissioner noted that, for many residents, particularly commercial transport operators, vehicles were more than means of transportation, as they served as sources of daily income, supported families, created employment and facilitated the movement of people and goods across communities.

Speaking on the financing arrangement, Olanike Kolawole the Executive Director operations said the 120 CNG vehicles were being provided because of the push for cleaner energy and the lower operating cost of CNG. She noted that riders could spend about one-third of what they would ordinarily spend on petrol, potentially leaving them with more income.

She added that the Federal Government initiative was established about two years ago to make consumer credit accessible to Nigerians, with a target of ensuring that 50 per cent of the country’s working population would have access to consumer loans within the next five years. Noting that more than 100,000 Nigerians had so far benefited, with about ₦47 billion already disbursed.

The commissioner urged beneficiaries to protect and properly maintain the vehicles, use them productively and honour their repayment obligations, stressing that the vehicles were economic assets rather than gifts.

She also called for the expansion of the partnership into agriculture, renewable energy, digital devices, small businesses, housing, education and other productive sectors to enable more residents to benefit from structured financing.

A representative of Bajaj Auto and other partners said the partnership with CREDICOR would help Nigerians overcome one of the major barriers to owning productive assets by providing access to vehicles through manageable financing arrangements.

They said the initiative would combine financing, mobility, technology, after-sales services, spare parts and training to enable beneficiaries to use the vehicles to generate sustainable incomes and support their families.
They described the initiative as the beginning of a scalable mobility programme aimed at reaching thousands of drivers and operators across Nigeria.