CREDICORP Expands Mobility Programme with CNG-Powered Tricycles in Adamawa
CREDICORP has rolled out 10,000 credit-backed vehicles nationwide, including CNG-powered tricycles in Yola, Adamawa State.
In Brief
- •CREDICORP has rolled out 10,000 credit-backed vehicles nationwide, including CNG-powered tricycles in Yola, Adamawa State.
- •The initiative aims to make productive assets accessible to working Nigerians through affordable consumer credit.
- •The Yola deployment marks CREDICORP's first use of CNG-powered vehicles, aligning with the Federal Government's energy transition agenda.
- •The mobility programme is part of CREDICORP's S.C.A.L.E. initiative, which connects consumer credit with Nigerian production and enterprise.
- •Over 301,000 Nigerians have accessed CREDICORP-supported consumer credit across various programmes.
Why It Matters
CREDICORP's initiative to deploy CNG-powered tricycles in Adamawa State is significant for several reasons. Firstly, it demonstrates the Corporation's commitment to reaching Nigerians in every region, including the North-East. Secondly, the use of CNG-powered vehicles aligns with the Federal Government's energy transition agenda, promoting cleaner and more sustainable livelihoods. Lastly, the initiative supports local manufacturing and enterprise, creating sustained demand for Nigerian-made goods and services. By financing locally assembled vehicles, CREDICORP is not only improving the lives of consumers but also contributing to national economic growth.
Key Details
- Total Vehicles Rolled Out
- 10,000
- Nigerians Accessed Consumer Credit
- 301,000
- Vendor Partner
- Subcity Global
- Credit Administration Support
- Letshego Microfinance Bank and Accion Microfinance Bank
- Vehicle Supplier
- DAG Bajaj
Context & Background
CREDICORP has been working to make consumer credit an everyday tool for Nigerians to own useful and productive assets, improve their livelihoods, and live better lives. The Corporation has been rolling out credit-backed vehicles across various regions of Nigeria, including South-South, North-Central, South-West, and the Federal Capital Territory.
Original Reporting & Sources
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