LOTUS Bank has partnered with the Presidential Initiative on CNG & EV to support the Federal Government’s push for cleaner and more affordable transportation through compressed natural gas and electric vehicles.
According to a statement, the collaboration was announced during the launch of the Northern Corridor of the CNG and EV Programme held in Kano, Kano State, on Thursday.
The government stated that the initiative aims to accelerate the adoption of cleaner and more sustainable mobility alternatives by expanding CNG and EV infrastructure nationwide.
Speaking at the event, the Deputy Chief of Staff to the President, Ibrahim Hadeja, who represented Vice President Kashim Shettima, described the programme as an economic strategy designed to cut transportation costs and improve the welfare of Nigerians.
“Transportation costs affect everything: food prices, manufacturing, logistics, and ultimately the lives of ordinary Nigerians. This initiative is not just an energy policy. It is an economic strategy for national growth,” Hadeja said.
Under the partnership framework, LOTUS Bank said it would support financing solutions across the CNG value chain, including integrated energy hubs, clean mobility asset acquisition, fleet conversion, and infrastructure financing for businesses and institutional players.
The Managing Director/Chief Executive Officer of LOTUS Bank, Dr Isiaka Ajani-Lawal, said the bank remained committed to supporting sustainable initiatives capable of delivering long-term economic and social impact.
“At LOTUS Bank, we believe sustainable finance must go beyond banking transactions to creating meaningful impact within communities and sectors critical to national growth,” Ajani-Lawal said through the bank’s Regional Head, Northeast and Northwest, Nazif Ibrahim.
“Our collaboration with Pi-CNG & EV reflects our commitment to ethical financing, infrastructure development, energy transition, and inclusive economic growth. We are proud to support initiatives that provide affordable alternatives capable of improving livelihoods while advancing Nigeria’s sustainability objectives,” Ajani-Lawal added.
He noted that the partnership further strengthens the bank’s position in Nigeria’s sustainability and developmental finance space.
Ajani-Lawal added that the bank recently supported financing initiatives within Nigeria’s renewable energy and infrastructure ecosystem through engagements linked to the Rural Electrification Agency, including the signing of a N100bn renewable energy financing initiative aimed at expanding clean energy access and sustainable infrastructure development.
The Presidential Initiative on CNG & EV disclosed that it had facilitated over 250,000 vehicle conversions nationwide, expanded conversion centres from seven to more than 350 locations within 18 months, and attracted over $2bn in private sector investment commitments from industry stakeholders.
