The Ministry of Youth Development has unveiled plans to launch the first phase of a project to distribute 2,000 Compressed Natural Gas (CNG)-powered tricycles to young Nigerians on October 1, 2024.
Briefing Journalists on Friday, Minister of State for Youth Development, Mr Ayodele Olawale, explained that the distribution of the tricycles was part of activities marking Nigeria’s 64th Independence Anniversary celebration.
According to the Minister, the initiative would ensure that tricycle riders, who are mostly youth, would spend only 20 per cent of what they currently spend on petrol, adding that it would also improve their profit and generally reduce the cost of transportation for their passengers.
He said: “I have just concluded a meeting for a partnership between the Federal Ministry of Youth Development, the Presidential Initiative on CNG, and the Amalgamated Commercial Motorcycle Owners and Riders Association of Nigeria for a Tricycle Empowerment
“By Tuesday, October 1st, we will be launching the first phase of a project to distribute 2,000 CNG Tricycles before the end of the year to the informal youth who work in the transportation sector,” he said.
The Minister who lamented the challenge of high youth unemployment in Nigeria, noted that President Tinubu believes that about 75 per cent of youth job seekers would stand a chance of securing employment within the growing Micro Small and Medium Enterprises (MSME) sector and rapid initiative in Bank of Industry (BOI).
He noted that the youth of today were obviously not part of the struggle for independence, saying however that the founding fathers of the nation have given the country something to celebrate, urging the citizens to nurture and preserve this independence.
While highlighting some of the interventions of President Tinubu, Olawande said, in keeping with the promise, the President approved some percentage for youth representation in his government, which has been implemented.
He revealed that the National Youth Investment Fund (NYIF), with an initial capital of N110 billion, was designed to provide financial support to youth entrepreneurs and start-ups.
“He initiated the Student Loan to give every willing Nigerian youth the chance to access quality education without financial worries.
“The President also approved the set-up for the Nigerian Youth Academy (NiYA) as a platform to teach the relevant skills that would propel the active participation of youth in the business sector and the job market.
“As youth, this government believes that we have the digital power, the technology, and the force of innovation to drive the growth of Nigeria. Hence, we launched the Digital Literary for All (DLAALL) to train over 30 million youth in digital literacy and skills with the partnership of NYSC and NITDA.”
