LOTUS Bank has partnered with the Presidential Initiative on CNG & EV to support the Federal Government’s drive toward cleaner and cheaper transportation through compressed natural gas and electric vehicle solutions.
The collaboration was unveiled during the launch of the Northern Corridor of the CNG and EV Programme held in Kano State.
According to the organisers, the initiative is designed to accelerate the adoption of alternative energy transportation by expanding CNG and electric vehicle infrastructure across Nigeria.
Representing Vice President Kashim Shettima at the event, Deputy Chief of Staff to the President, Ibrahim Hadeja, described the programme as more than an energy project, saying it is part of broader economic reforms aimed at reducing transportation costs and improving living conditions for Nigerians.
He explained that transportation expenses directly influence food prices, manufacturing costs, logistics and the general cost of living across the country.
Under the partnership, LOTUS Bank said it would provide financing support across the entire CNG value chain, including infrastructure development, vehicle conversion, energy hubs and clean mobility assets for businesses and institutional operators.
Managing Director and Chief Executive Officer of LOTUS Bank, Dr Isiaka Ajani-Lawal, said the bank remains committed to supporting sustainable projects capable of creating long-term economic and social benefits.
Speaking through the bank’s Regional Head for Northeast and Northwest, Nazif Ibrahim, Ajani-Lawal said the partnership reflects LOTUS Bank’s commitment to ethical financing, sustainable infrastructure and inclusive economic development.
He noted that the initiative aligns with the bank’s broader focus on supporting Nigeria’s energy transition and expanding access to affordable transportation alternatives.
According to him, the partnership further strengthens LOTUS Bank’s growing involvement in sustainability and developmental finance projects across the country.
Ajani-Lawal also highlighted the bank’s recent participation in renewable energy financing programmes linked to the Rural Electrification Agency, including a N100bn clean energy financing initiative aimed at improving energy access and sustainable infrastructure development.
The Presidential Initiative on CNG & EV disclosed that over 250,000 vehicles have already been converted nationwide under the programme.
The initiative also revealed that the number of conversion centres across the country increased from seven to more than 350 within 18 months.
Officials added that the programme has attracted over $2bn in private sector investment commitments from industry stakeholders supporting cleaner mobility and energy transition in Nigeria.
