- LOTUS Bank partners with the Presidential Initiative on CNG & EV to expand clean transportation across Nigeria.
- The partnership will finance CNG infrastructure, vehicle conversion, and clean mobility projects.
LOTUS Bank has partnered with the Presidential Initiative on CNG & EV to support the Federal Government’s drive for cleaner and more affordable transportation through compressed natural gas (CNG) and electric vehicles (EVs). The partners announced the collaboration during the launch of the Northern Corridor of the CNG and EV Programme in Kano.
The initiative aims to accelerate the adoption of sustainable mobility alternatives by expanding CNG and EV infrastructure nationwide. Representing Kashim Shettima, Deputy Chief of Staff to the President, Ibrahim Hadeja described the programme as both an energy and economic strategy. He explained that reducing transportation costs would lower food prices, improve logistics, and strengthen the welfare of Nigerians.
Under the partnership, LOTUS Bank will provide financing solutions across the CNG value chain. The bank will support integrated energy hubs, clean mobility asset acquisition, fleet conversion, and infrastructure financing for businesses and institutions.
Isiaka Ajani-Lawal, Managing Director and Chief Executive Officer of LOTUS Bank, said the bank remains committed to financing initiatives that create long-term economic and social impact. Speaking through Regional Head Northeast and Northwest, Nazif Ibrahim, he stated that the partnership reflects the bank’s focus on ethical financing, infrastructure development, energy transition, and inclusive growth.
Ajani-Lawal also noted that the partnership strengthens the bank’s role in Nigeria’s sustainability and developmental finance space. He highlighted the bank’s recent involvement in renewable energy financing initiatives linked to the Rural Electrification Agency, including participation in a N100 billion renewable energy financing initiative aimed at expanding clean energy access and sustainable infrastructure.
The Presidential Initiative on CNG & EV revealed that it has already facilitated more than 250,000 vehicle conversions nationwide. The initiative also expanded conversion centres from seven locations to more than 350 within 18 months and attracted over $2 billion in private-sector investment commitments.