The Nation Newspaper Fed Govt, partners to roll out 5,000 CNG-powered tricycles
The Federal Government will in partnership with Luoyang Northern Enterprises roll out 5,000 Compressed Natural Gas -powered tricycles within the next three months.
To support this initiative, Oluwagbemi stated that government has introduced several incentives, including Value Added Tax exemptions and custom duty waivers for the tricycles entering Nigeria.Furthermore, the Nigerian Midstream and Downstream Petroleum Regulatory Authority is providing CNG at a concessionary price, offering more than a 40 per cent discount on the current price, ensuring users up to 70 percent savings compared to operating on petrol for the same distance.
Regarding the distribution and payment plan for beneficiaries, Oluwagbemi disclosed that the government is working with various tricycle organizations to identify potential beneficiaries under a loan scheme. “We are also developing a convenient payment plan for these individuals. Additionally, conversion kits will be made available at discounted prices to enable people to convert their existing vehicles to CNG.
“We are also making plans to ramp up our capacity in terms of numbers. We have expatriates who will be coming in from China to train our team on the ground. We are also open to collaborating with individuals who have hands-on experience in the field.”
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