LOTUS Bank has entered into a partnership with the Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG & EV) during the launch of the Northern Corridor of the CNG and EV Programme in Kano State. This collaboration aims to promote cleaner and more affordable transportation alternatives throughout Nigeria.
Partnership Details
The initiative is designed to accelerate the adoption of cleaner, affordable, and sustainable mobility solutions by expanding CNG and EV infrastructure nationwide. Under the agreement, 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 institutional players within the ecosystem.
Government Support
Speaking at the event, Vice President Kashim Shettima described the programme as a major economic strategy to reduce transportation costs, strengthen energy security, and improve the lives of Nigerians. Represented by the Deputy Chief of Staff to the President, Ibrahim Hadeja, Shettima stated, “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.”
Bank's Commitment
The Managing Director and Chief Executive Officer of LOTUS Bank, Isiaka Ajani-Lawal, emphasized the bank's commitment to supporting transformative and sustainable initiatives. Represented by the bank’s Regional Head for 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 with the Rural Electrification Agency, including a N100 billion renewable energy financing initiative aimed at expanding clean energy access and sustainable infrastructure development.
Since its inception, LOTUS Bank has focused on delivering ethical, technology-driven, and inclusive banking solutions across retail, corporate, commercial, and public sector segments while supporting sectors critical to Nigeria’s long-term economic transformation.
Progress of Pi-CNG & EV
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.
