FG Plans to Roll Out 5,000 CNG Tricycles in Three Months
Exciting news for Nigeria! The Federal Government is set to roll out 5,000 CNG-powered tricycles in the next three months as part of its commitment to promoting cleaner energy and affordable transportation. This initiative will create thousands of jobs, boost the economy, and reduce transportation costs for Nigerians. Read on to learn more about the government’s plans and the benefits of CNG tricycles
The Federal Government of Nigeria, through the Presidential CNG Initiative (P-CNGi), plans to introduce 5,000 CNG-powered tricycles within the next three months. This initiative aims to promote the use of Compressed Natural Gas (CNG) for transportation, offering several incentives like VAT exemptions and customs duty waivers. The recently inaugurated Luojia Tricycle Assembly plant in Ogun State is expected to create thousands of jobs and boost economic growth. The government is also providing discounted CNG prices and working on loan schemes and conversion kits to encourage the adoption of CNG vehicles. This initiative supports President Bola Tinubu’s vision for cleaner energy and aims to reduce transportation costs and inflation in Nigeria.
New Tricycle Assembly Plant
Michael Oluwagbemi, the Programme Director and Chief Executive of P-CNGi, announced this at the opening of the Luojia Tricycle Assembly plant in Ogun State. This plant is a key part of the government’s plan to increase the use of CNG in Nigeria.
Government Incentives
To encourage the use of CNG, the government offers tax benefits like VAT exemptions and customs duty waivers for CNG vehicles and requires all government departments to buy only CNG-powered vehicles.
P-CNGi-ARDNig
Affordable CNG Prices
The Nigerian Midstream and Downstream Petroleum Regulatory Authority is offering CNG at a discounted price, making it 40% cheaper than current fuel prices. This helps make transportation more affordable and eco-friendly.
IC Growth and Job Creation
The new Luojia assembly plant will create 60 direct jobs and over 6,000 indirect jobs. It will also boost the economy by increasing growth and tax revenue through partnerships with the private sector.
Loan and Conversion Plans
The government is working with tricycle organizations to find people who can benefit from loans to buy new CNG tricycles and to provide low-cost conversion kits to help people switch their current vehicles to CNG.
Call to Action
Oluwagbemi encouraged Nigerians to embrace CNG as a cleaner and more affordable energy source, in line with President Bola Tinubu’s vision for Nigeria’s future.
Micheal Oluwagbemi-ARDNig
Support from the Private Sector
Damilola Agboola, the Managing Director and CEO of TGIS, praised the removal of the fuel subsidy and the introduction of CNG as a significant change. The Luojia plant aims to assemble 120 tricycles daily and over 30,000 annually. They plan to train local workers with help from Chinese experts and collaborate with experienced individuals.
Future Innovations
The assembly plant aims to employ up to 300 Nigerians in the future, producing 120 tricycles daily. Over time, they hope to innovate and create a uniquely Nigerian tricycle design.
Benefits of CNG Tricycles
Dr. Kayode Opeifa, former Lagos State Commissioner for Transport, said that CNG tricycles will lower transportation costs, reduce inflation, and provide energy security for Nigeria. Nigerians are encouraged to support this move to cleaner, more affordable energy for transportation.
The Federal Government of Nigeria’s initiative to roll out 5,000 CNG-powered tricycles marks a significant step towards a sustainable and eco-friendly transportation system. Through the establishment of the Luojia Tricycle Assembly plant, various government incentives, and a collaborative effort with the private sector, this initiative is poised to create jobs, boost economic growth, and reduce the environmental impact of transportation. By offering affordable CNG prices and facilitating the conversion of existing vehicles, the government aims to make CNG a widely accessible alternative to traditional fuels. This initiative not only aligns with President Bola Tinubu’s vision for a cleaner and more efficient energy future but also underscores the potential of CNG in lowering transportation costs, reducing inflation, and ensuring energy security. As Nigeria embraces this innovative shift, the combined efforts of the government, private sector, and citizens will pave the way for a greener, more prosperous nation.
