FG empowers 3,700 women with credit-backed tricycles

The Federal Government through the Nigerian Consumer Credit Corporation (CREDICORP) has rolled out expansion of its Queen Rider Programme aimed at empowering 3,700 Nigerian women from the 36 states of the country and the Federal Capital Territory with credit-backed tricycles.

The programme which is being executed in partnership with Gamma Mobility is targeted at empowering at least 100 women per state and the FCT to become tricycle (Keke NAPEP) owners and operators through access to credit-backed vehicle purchases.

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The rollout which is under CREDICORP’s (Securing Consumer Access for Local Enterprises) SCALE Programme, also aims to link everyday consumers to Nigeria’s manufacturing backbone by channeling credit-backed women towards purchase of locally assembled tricycles from Simba TVS, another of its partners that produces 1,170 tricycles and motorbikes daily in Nigeria.

The agency explained that by driving up demand for domestically assembled vehicles, the program supports Nigeria’s broader industrial policy goals by ensuring that every loan taken strengthens a local factory and feeds a local family.

Managing Director/ Chief Executive Officer of CREDICORP, Engr. Uzoma Nwagba, at the rollout of the programme in Port Harcourt, said the credit-backed tricycles initiative was part of CREDICORP’s wider effort to support half of Nigeria’s working population by 2030 with consumer credit tools that directly enhance their quality of life, whether through vehicle ownership, clean energy adoption, or youth enterprise.

Nwagba attributed the initiative to President Bola Tinubu’s desire for Nigerians to own credit power, stressing that with the scheme, the citizens do not need to work till retirement before owning homes and other essentials that make life comfortable.

“This initiative is President Bola Tinubu’s mandate. He is a man who has been very passionate about consumer credit for many decades and it is his idea that people should be able to access goods and services today and better their lives and pay for them over time.

“He said we should have a credit system that works for all. Civil servants don’t have to wait until retirement to own a house or have a car. They should be able to get it at the beginning of their service and same with non-civil servants, salary workers, entrepreneurs, artisans. They should be able to get their solar panels, vehicles, renovate their homes through access to credit,” he added.

Nwagba advised the beneficiaries to maximise the empowerment tool to better their lives and also pay back consistently in order not to deny other women from benefitting from the programme.

He also announced that aside from the Queen Rider Programme, the agency was also involved in several other initiatives such as electronic devices to enable young people to get smartphones and laptops to be able to get on the digital economy and be more productive.

He called on Nigerians to get used to consumer credits to enable them to become productive users of credit, adding that consistency in repayment guarantees more credits.

Sam Esiri, Co-Founder of Gamma Mobility, and Manager of the Queens Rider Programme said the programme was poised to ignite dignity, purpose, and prosperity for thousands of Nigerian women.

He asserted that the Queen Riders Programme was not just a product launch, but a resolute proclamation that Nigerian women deserve unhindered access to the tools of economic empowerment.

He commended the efforts of CREDICORP and other partners in the scheme.

“This programme entails that mobility must transcend mere movements, it must propel lives towards brighter futures and with the right platforms, women can steer the transformation of urban transport in Nigeria. This bold vision comes to life through the remarkable synergy of our partners whose collective efforts have made this moments possible,” Esiri stated.

Speaking on the benefits of the programme, he stated that through the Queen Riders Programme, the women would own their vehicles, own their income, forge sustainable livelihoods, and also own their futures by becoming independent.

A beneficiary of the programme, Mrs Elizabeth John, praised CREDICORP and their partners for putting smiles on their faces assuring that they (beneficiaries) would maximally utilise the opportunity given to them.