Lotus Bank has partnered the Presidential Initiative on CNG and EV (Pi-CNG & EV) during the launch of the Northern Corridor of the Compressed Natural Gas (CNG) and Electric Vehicle (EV) Programme in Kano State as part of efforts to support cleaner and more affordable transportation alternatives across the country.

The initiative is designed to accelerate the adoption of cleaner, affordable and sustainable mobility solutions through the expansion of CNG and EV infrastructure nationwide.

Speaking at the event, the Vice President, Kashim Shettima, described the programme as a major economic strategy aimed at reducing transportation costs, strengthening energy security and improving the lives of Nigerians.

Shettima, who was represented by the Deputy Chief of Staff to the President, Ibrahim Hadeja, said, “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.”

Under the collaboration framework, LOTUS Bank will 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 within the ecosystem.

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

Represented by the bank’s Regional Head, Northeast and Northwest, Nazif Ibrahim, Ajani-Lawal said: “At LOTUS Bank, we believe sustainable finance must go beyond banking transactions to creating meaningful impact within communities and sectors critical to national growth.’’

He added that the partnership strengthens the bank’s position within Nigeria’s sustainability and developmental finance space.

Ajani-Lawal recalled that the bank recently supported financing initiatives within Nigeria’s renewable energy and infrastructure sector through engagements connected to the Rural Electrification Agency, including the signing of a N100 billion renewable energy financing initiative aimed at expanding clean energy access and sustainable infrastructure development in the country.

According to him, LOTUS bank has, since the commencement of operations, focused on delivering ethical, technology-driven and inclusive banking solutions across retail, corporate, commercial and public sector segments while supporting sectors considered critical to Nigeria’s long-term economic transformation.

Meanwhile, the Pi-CNG & EV disclosed that it has facilitated more than 250,000 vehicle conversions nationwide, expanded conversion centres from seven to over 350 locations within 18 months and attracted more than $2 billion in private sector investment commitments from key industry players.