LOTUS Bank Partners FG On CNG, EV Mobility Initiative

Ismael Ahmed, Executive Chairman, Presidential Compressed Natural Gas Initiative (PCNG); and Mr. Nazif Ibrahim, Regional Head Northeast and Northwest, LOTUS Bank; signing the PCNG initiative partnership agreement while other dignitaries watch in Kano, Kano State.

LOTUS Bank has partnered with the Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG & EV) to support the Federal Government’s drive towards cleaner and more affordable transportation alternatives across the country.

The partnership was announced during the launch of the Northern Corridor of the Compressed Natural Gas (CNG) and Electric Vehicle (EV) Programme held in Kano State.

The initiative is aimed at accelerating the adoption of sustainable mobility solutions through the expansion of CNG and EV infrastructure nationwide.

Speaking at the event, Vice President Kashim Shettima described the programme as a major economic strategy designed to reduce transportation costs, enhance energy security and improve the living conditions of Nigerians.

Represented by the Deputy Chief of Staff to the President, Ibrahim Hadeja, the Vice President noted that transportation costs significantly affect food prices, manufacturing, logistics and the overall economy.

Under the partnership framework, LOTUS Bank will provide financing solutions across the CNG value chain, including integrated energy hubs, clean mobility asset acquisition, fleet conversion and infrastructure financing for businesses and institutions operating within the sector.

Managing Director and Chief Executive Officer of LOTUS Bank, Isiaka Ajani-Lawal, said the bank remained committed to supporting sustainable initiatives capable of delivering long-term economic and social benefits.

Represented by the bank’s Regional Head for Northeast and Northwest, Nazif Ibrahim, Ajani-Lawal stated that the partnership aligns with the bank’s commitment to sustainable and developmental finance.

According to him, the bank recently supported renewable energy and infrastructure financing initiatives in collaboration with the Rural Electrification Agency, including the signing of a N100 billion renewable energy financing agreement aimed at expanding clean energy access across Nigeria.

He added that LOTUS Bank has continued to focus on ethical, technology-driven and inclusive banking solutions while supporting sectors considered critical to Nigeria’s economic transformation.

Meanwhile, the Pi-CNG & EV initiative disclosed that it has facilitated more than 250,000 vehicle conversions nationwide and expanded conversion centres from seven to over 350 locations within 18 months.

The initiative also revealed that it has attracted more than $2 billion in private sector investment commitments from major industry players.