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Delta to subsidise the cost of tricycle

17 September 2012, 13:10

Delta - The Delta Government is to subsidise the cost of the 1,250 tricycles, which it procured recently for intending buyers by about 50 per cent, the Commissioner for Transport, Mr Benson Igbakpa, has said.

Igbakpa told the News Agency of Nigeria (NAN) in Asaba on Monday that each of the tricycle, which sold for between N350,000 and N400,000 in the open market, would be sold to buyers for N200,000.

He, however, explained that intending buyers would be expected to pay the money in one installment before collecting the tricycle.

``This is to enable the ministry have direct contact with prospective buyers since the government will not be able to vouch for the integrity of the buyers,’’ the commissioner said.

Igbakpa explained that the method of payment would be for the prospective buyers to pay 25 per cent of the N200,000 to designated banks, and for the banks in turn to make full payment to the government.

He said that intending buyers would be given the tricycle after they and the banks had agreed on terms of repaying the loan which would attract five per cent interest.

The commissioner said though the 1,250 tricycles would not be enough for all registered commercial motorcyclists in the state, government would use their operations to appraise how Okada riders complied with the new tricycle regime.

Igbakpa clarified that there was no ban on the operations of motorcycles popularly known as Okada in the state as was being speculated.

He, however, stated that though the government had restricted their operations in cities and towns, they were free to operate in neighbouring communities.



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