By Peace Udugba -The Daily Torch Media
The Nigerian Consumer Credit Corporation (CREDICORP) has extended its nationwide rollout of 10,000 credit-backed, locally assembled vehicles to Adamawa State, with the deployment of Compressed Natural Gas (CNG)-powered three-wheelers in Yola.
The activation, held at Mahmud Ribadu Square, marks CREDICORP’s entry into the North-East under its national mobility programme, which is designed to expand access to vehicle ownership through consumer credit.
The programme has previously reached locations across the South-South, North-Central and South-West, including Port Harcourt, the Federal Capital Territory, Ijebu-Ode, Akure, Lagos and Ile-Ife.
Following the Adamawa rollout, CREDICORP said Borno State would be the next destination before the programme moves into the South-East as it continues its nationwide expansion.
CREDICORP deploys CNG-powered tricycles
The Yola activation also marked CREDICORP’s first deployment of CNG-powered three-wheelers under the national mobility programme.
The corporation said the initiative is intended to align its consumer credit mandate with the Federal Government’s energy transition efforts while making cleaner-energy vehicles accessible to working Nigerians through structured financing.
According to CREDICORP, financing CNG-powered vehicles can help beneficiaries adopt cleaner-energy transportation without having to bear the full upfront cost of acquiring the vehicles.
The corporation said more than 301,000 Nigerians nationwide have accessed CREDICORP-supported consumer credit across areas including mobility, digital devices, home improvement, life essentials and other productive assets.
Scheme targets local production
The vehicle rollout is being implemented under CREDICORP’s S.C.A.L.E. initiative — Securing Consumer Access for Local Enterprises.
The initiative links consumer credit with locally manufactured and assembled products, with the corporation saying the model is designed to expand consumers’ access to productive assets while creating demand for Nigerian manufacturers, assemblers and businesses.
Speaking on the Yola rollout, CREDICORP Managing Director and Chief Executive Officer, Engr. Uzoma Nwagba, described the activation as part of the corporation’s broader national mobility mission.
Nwagba said the programme was designed to take consumer credit to Nigerians across the country and provide access to productive assets that could support income generation and improved livelihoods.
He added that the deployment of CNG vehicles was significant because it combined expanded access to mobility with the country’s transition towards cleaner energy.
According to him, enabling Nigerians to acquire clean-energy vehicles through responsible credit could expand their economic opportunities while supporting local production and demand.
Partners support Adamawa rollout
CREDICORP said it delivers its programmes through licensed financial institutions, manufacturers, vendors and community partners.
For the Yola activation, Subcity Global served as the vendor and aggregator partner responsible for mobilising beneficiaries and coordinating the deployment.
Letshego Microfinance Bank and Accion Microfinance Bank provided credit administration support, while DAG Bajaj supplied the locally assembled CNG-powered three-wheelers.
CREDICORP said its broader objective is to build a national consumer credit marketplace where access to responsible financing can help Nigerians acquire productive assets while supporting local industries and employment.
