The Presidential CNG Initiative announced that the Nigerian federal government has finalized plans to introduce 5,000 Compressed Natural Gas-powered tricycles within the next three months.
Michael Oluwagbemi, the Program Director and Chief Executive of P-CNGi, revealed this on Thursday at the opening of the Luojia Tricycle Assembly plant in Ogun State.
Oluwagbemi mentioned that the government had implemented various incentives, such as Value Added Tax exemptions and Custom duty waivers, for CNG-powered tricycles and other vehicles being imported into the country.
He added that the program would generate at least 60 direct jobs and 6000 indirect jobs in Nigeria.
“The 5,000 tricycles form part of the initial units acquired by the government under the Presidential CNG Initiative, which aims to enhance affordable and eco-friendly transportation across Nigeria and to mitigate the impact of fuel subsidy removal.
“It will generate at least 60 direct jobs and over 6,000 indirect jobs. This collaboration with the private sector in implementing this initiative would boost economic growth and increase tax revenue for the government,” he said.
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