The Alternative Bank, Niger State Govt Sign N14B Deal To Finance Delivery Of 5,000 Electric Tricycles

The Alternative Bank, Niger State govt sign N14 billion deal to finance delivery of 5,000 electric tricycles (electric Keke NAPEP).

Deal will see the state govt procure the tricycles, lease them as well as establish an assembly and maintenance plant.

In addition, the charging and battery swap stations will be installed at strategic locations such as schools, hospitals and markets.

Alternative Bank dub the deal as the single largest delivery of electric vehicles across the country, and on the African continent. 

The Alternative Bank has signed a deal with the Niger State Government worth N14 billion to finance the delivery of 5,000 electric tricycles (electric Keke NAPEP) to drive social impact, youth empowerment, business growth, and economic prosperity in the state.

The deal will see the Niger State government, through its Ministries of Transportation, Youth, Women Affairs, and Small and Medium Enterprises procure the tricycles, lease them to beneficiaries, establish an assembly and maintenance plant, and train youths of the state as mechanics to service the tricycles.

In addition, the charging and battery swap stations for the electric tricycles are to be installed at strategic locations such as schools, hospitals and markets across major towns in the state.

Speaking on the development, Governor of Niger State, Mohammed Bago, said the deal was one step towards the upliftment of the state towards realising its full economic potential and making Niger a ‘green’ state.

At the deal-signing ceremony, the Executive Director of The Alternative Bank, Garba Mohammed, said :

“This project, as conceived, will provide solutions to aid the economic involvement of the women, youth and small businesses by generating commercial value for the people and the government, safeguarding the environment through the use of renewable and sustainable energy sources as a driver of transportation with the great state of Niger.”

“This will be the single largest delivery of electric vehicles across the country, and on the African continent,” Mohammed added.

This deal comes barely a week after Alternative Bank delivered 120 electric tricycles to the women of Mata Zalla and Yar Baiwa cooperatives in Kano State. The deal also saw the bank train them on servicing and maintenance of the vehicles, as well as create a battery swapping terminal within the Kano metropolis for easy recharging of the tricycles for continued operation.

• See Also : Lagos-based Nord Motion Delivers 120 Battery-powered Tricycles For “Electric Tricycle Project For Women” In Kano