• Thursday, June 20, 2024
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Alternative Bank, Niger sign N14bn deal to deliver 5,000 electric tricycles

Alternative Bank, Niger sign N14bn deal to deliver 5,000 electric tricycles

Alternative Bank and the Niger state government have signed an N14 billion deal to deliver 5,000 electric tricycles, in a move set to revolutionise the state transportation sector and promote eco-friendly initiatives.

The tricycles are expected to be leased to beneficiaries, creating economic opportunities for residents.

The deal also includes the establishment of an assembly and maintenance plant within the state, a development that will not only create jobs but also equip young people with valuable skills as they are trained as mechanics to service electric vehicles.

Read also: CNG initiative to cut petrol import spendings by $4.4bn annually–FG

Mohammed Bago, governor of Niger State sees this deal as a significant step towards a more prosperous and environmentally friendly future.

He highlighted The Alternative Bank’s innovative approach, praising its role as a partner in progress rather than just a lender.

Garba Mohammed, executive director of The Alternative Bank, emphasised the project’s potential to empower women, youth, and small businesses.

He also underscored the environmental benefits, stating that these tricycles will be “the single largest delivery of electric vehicles across the country, and on the African continent.”

“By replacing fossil fuel-powered vehicles, the project contributes significantly to reducing pollution in Niger State,” Mohammed said.

Read also: Innoson delivers new plant to produce 30,000 CNG buses, trucks yearly

This deal builds on The Alternative Bank’s recent success story in Kano State, where they provided 120 electric tricycles to women’s cooperatives.

The project goes beyond just providing the tricycles. Charging and battery swap stations will be installed at strategic locations throughout major towns, ensuring easy and convenient operation for users. This infrastructure is crucial for widespread adoption of electric tricycles.

The Kano project has already yielded positive results, empowering women economically, increasing transportation options, and reducing costs for residents.

Niger State’s landmark electric tricycle deal with The Alternative Bank promises a future filled with economic growth, social empowerment, and environmental responsibility, setting a new standard for sustainable development in Nigeria.