In a bold move to enhance the welfare of its personnel, the Nigerian Police Force has unveiled a tricycle loan scheme worth N5.5 million per unit under the Inspector General of Police Kayode Egbetokun’s welfare initiative. This scheme, facilitated through the Nigeria Police Cooperative Multi-Purpose Society Ltd, introduces Bulk Stalker Engineering Limited as the designated supplier of tricycles, offering officers an opportunity to own commercial transport vehicles on a structured repayment plan.
According to a police wireless messagedated March 12, 2025, the Assistant Inspector General of Police (AIG) in charge of the Police Cooperative Society, Lagos, officially notified all departments, commands, and units about the initiative. The message detailed that the company would supply tricycle trucks, trike pick-ups, TTI single cabins, tricycle taxis, Trika ambulances, and TP7 trike taxis to interested officers on a loan basis.
Loan Terms and Payment Structure
Loan Amount: ₦5.5 million per tricycle
Monthly Deduction: ₦90,000
Repayment Duration: 60 months (5 years)
Payment Mode: Direct deduction from officers’ salaries via IPPIS (Integrated Payroll and Personnel Information System)
The memo emphasized that application forms would be made available through the company’s representatives at all Police Cooperative Society outlets nationwide, urging officers to seize the opportunity.
Empowering Officers Through Entrepreneurship
Tricycles, popularly known as “Keke”, serve as a key mode of transportation across Nigeria. By allowing officers to acquire them through an affordable loan scheme, the initiative seeks to bolster financial security, offering personnel an additional income stream beyond their police salaries.
This initiative underscores the Nigerian Police Force’s commitment to improving the welfare of its officers by integrating innovative economic empowerment programs into its policies.
Stay tuned for further updates on the implementation of this welfare scheme.
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