A local auto firm, Zeta Auto Limited, is working on affordable ownership scheme hat will facilitate outright purchase of tricycles by Nigerians in the coming year.
The company will be launching different brands and designs, all tailored to meet consumers’ desires, and powered by Compressed Natural Gas, CNG.
The company intend to achieve this through the issuance of micro leases on Keke and motorcycles as it is estimated that there are over 15 million Keke riders in Nigeria alone but less than 10 per cent of these Keke riders own a Keke”.
Chief Executive Officer, of the company, Mr Allison Hibbert, who disclosed this on Thursday, said the company was established to develop an affordable means of transportation in Nigeria.
Hibbert said: “The brands of these tricycles, which are more durable, are produced in Pakistan, with radiators to cool the engine as against other existing brands of tricycles that are air cooled”.
According to him, as the price of petrol would jump up as Federal Government plans deregulation of the downstream oil sector by 2023.
He said Zeta Auto brands of tricycles are coming prepared to use Compressed Natural Gas, CNG, or Liquified Petroleum Gas, LPG, which is a major plus in the energy transition agenda.
He explained, “We have a strong and distinct desire for quality and efficiency in our products with one year warranty on our products.
“After our one-year warranty period for our brands of Keke and motorcycles, you can use them for like five to seven years as long as riders use recommended engine oil.
“We have a scheme, known as Keke bank, which provides for the tricycle riders to own their tricycle with ease as it will empower and improve the lives of tricycle riders in Nigeria/Africa by providing them access to their own Keke vehicles.”
Through the Keke Bank scheme, the company, he said, believes that by providing the Keke rider ownership, they can improve the riders’ standard of living once they gain ownership. They will no longer be under severe pressure to meet up with remitting to the bosses . This will in turn leave them with higher disposable income in the future to meet other personal needs.
“Owning their own Kekes also brings other intangible benefits to the Keke rider and their families.
“The vast majority of the riders pay weekly to the Keke owners or bosses who are the real owners, while the riders never own a Keke. With Keke bank, riders can pay a similar weekly rate for a period of time and eventually own the Keke”, he further stated.
Hibbert explained that the engine of the company’s brands is perfect and that the company has a fantastic repairs and distribution network, which makes spare parts available everywhere in the country.
While calling for distributors for the brands of tricycles which will enter the country by January next year, Mr Hibbert said the prices of the tricycle are competitive with the existing brands in the country.
He said the company has arrangements with some banks, where cooperative societies can go for loan facilities to purchase the company’s brand of tricycle.
He said the company has since opened discussions with the Tricycle Riders Association of Nigeria and the National Union of Road Transport Workers (NURTW) to make access to the company’s brands accessible to their members.
Zeta Autos Limited is the first wholly owned multipurpose tricycle assembler/dealer in Nigeria, which was recently incorporated, and has been involved in the sale and supply of automobiles.