Business
FG Mulls Solar-Powered Tricycles In 2019

The federal hovernment has announced plans to introduce solar-powered tricycles and motorcycles into the Nigerian transport system in 2019.
The Minister of Transportation, Mr Rotimi Amaechi disclosed this at the swearing-in ceremony of newly elected executives of Amalgamated Commercial Tricycle & Motorcycle Owners, Repairs and Riders Association of Nigeria (ACOMORAN) in Abuja.
The minister, who was represented by Director, Road Transport and Mass Transit Administration of the ministry, Dr Anthonia Ekpa said the initiative would solve the fuel challenges faced by motorcycles and tricycles riders.
“What we have done is to ensure that we introduce into the Nigeria environment, solar-powered tricycles, we are going to introduce into the sector tricycles that will not need to use fuel and also electric tricycles.
“I want to use this opportunity to also say that we have put it in the 2018 budget to be implemented in 2019 because in the 2018 budget we have what we called green transportation, which under it we have the solar-powered tricycles.
“We also have in the 2018 budget what we called amphibious vehicles, which is going to be in form of a tricycles which can be used on water and on land for those of you in the riverine areas, we hope to purchase that in 2019.”
He however, said that road transport remains the most critical and accessible to all Nigerians, urging the new ACOMORAN president to ensure that his members obey all traffic laws.
The Chairman, Senate Committee on Land Transport, Sen. Gbenga Ashafa congratulated the new president, urging him to ensure that his members were law abiding.
He said that the association was playing a vital role of providing affordable transportation in the country, adding that members must work towards reducing carnage on the road.
In his speech, the new national President, Mr Samsudeen Apelogun said the association would partner with the Ministry of Transportation and security agencies to succeed.
He said that his administration would concentrate on four key agenda of enhancing members welfare, total rebranding, infrastructural development and partnership with government and security agencies.
Apelogun said that the agenda would be vigorously implemented during his five years tenure.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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