Credicorp Launches CNG Tricycles for Better Transport in Adamawa

The Nigerian Consumer Credit Corporation (CREDICORP) has launched 10,000 credit-backed vehicles in Yola, Adamawa State. This effort aims to help working Nigerians get productive assets through affordable consumer credit.

The launch took place at Mahmud Ribadu Square in Yola. This event marks CREDICORP’s entry into the North-East region. It is a big step in the Corporation’s plan to improve mobility across Nigeria. The company wants to make vehicle ownership easier for people in different communities.

Before reaching Adamawa, CREDICORP had already launched in South-South, North-Central, and South-West regions. Cities like Port-Harcourt, FCT, Ijebu-Ode, Akure, Lagos, and Ile-Ife have benefited. The rollout will soon move to Bornoto and then to the South-East, continuing CREDICORP’s national program.

In a historic move, the Yola launch is the first time CREDICORP is deploying Compressed Natural Gas (CNG) powered tricycles. This step links the company’s consumer credit goals with the Federal Government’s energy transition plans. CREDICORP aims to support cleaner and more sustainable living for Nigerian workers. By financing CNG vehicles, CREDICORP makes it easier for Nigerians to access cleaner energy without it becoming a financial burden.

This vehicle rollout is part of CREDICORP’s larger goal to make consumer credit an everyday option for Nigerians. The aim is to help people own useful assets, improve their lives, and enjoy better living conditions. So far, over 301,000 Nigerians have accessed CREDICORP-supported credit for mobility, digital devices, home improvements, life essentials, and other productive needs.

CREDICORP is running this vehicle initiative under its S.C.A.L.E. program. This stands for Securing Consumer Access for Local Enterprises. The program links consumer credit with local production and businesses. By financing locally assembled vehicles and other Nigerian-made products, CREDICORP hopes to improve lives and boost demand for local manufacturers and businesses.

Uzoma Nwagba, Managing Director/CEO of CREDICORP, spoke about the rollout. He said the Yola launch is a key moment in CREDICORP’s mission. “What Nigerians are seeing in Yola today is one stop in a much bigger journey. We are taking consumer credit across every region of this country and putting productive assets into the hands of hardworking people who can use them to earn, grow, and live better now.”

He added, “The CNG vehicles being deployed today carry a dual significance. They represent our commitment to reaching Nigerians in every part of the country and our belief that the energy transition must be financed in a way that works for ordinary people. When a Nigerian can acquire a clean-energy vehicle today and pay responsibly over time, we have not only financed an asset, we have expanded that person’s economic possibilities while building demand for something produced here in Nigeria. Multiply that across thousands of people, communities, and industries, and consumer credit becomes a powerful engine for better lives and national economic growth.”

CREDICORP works with licensed financial institutions and a growing network of manufacturers, vendors, and community partners to deliver its programs. For the Yola launch, Subcity Global acted as the vendor and aggregator partner. They helped mobilize beneficiaries and manage the rollout. Letshego Microfinance Bank and Accion Microfinance Bank provided credit administration support. DAG Bajaj supplied the locally assembled CNG tricycles. Through S.C.A.L.E. and its broader credit programs, CREDICORP aims to create a national market where responsible credit allows Nigerians to own more, earn more, and live better, while also supporting local industry and jobs.