LOTUS Bank, a non-interest bank and financial advisory services provider, is collaborating with the Presidential Initiative on Compressed Natural Gas and Electric Vehicle (Pi-CNG and EV) to accelerate adoption of cleaner and more affordable mobility alternatives.
A statement by the bank’s Managing Director, Dr Isiaka Ajani-Lawal, in Abuja on Monday, said the collaboration would be geared toward the expansion of CNG and EV infrastructure nationwide.
Ajani-Lawal said the initiative was designed to accelerate the adoption of cleaner, more affordable and sustainable mobility alternatives.
The managing director said the agreement was sealed at the inauguration of the Northern Corridor of the Compressed Natural Gas (CNG) and Electric Vehicle (EV) Programme in Kano.
He said the collaboration was geared towards the expansion of CNG and EV infrastructure nationwide.
The managing director said the bank remained committed to supporting transformative and sustainable initiatives capable of delivering long-term economic and social impacts on citizens and the economy.
”At LOTUS bank, we believe sustainable finance must go beyond banking transactions to creating meaningful impact within communities and sectors critical to national growth.
“Our collaboration with Pi-CNG and EV reflects our commitment to ethical financing, infrastructure development, energy transition and inclusive economic growth.
”We are proud to support initiatives that provide affordable alternatives capable of improving livelihoods while advancing Nigeria’s sustainability objectives,” he said.
He said the Bank is supporting the development of financing solutions across the CNG value chain, including integrated energy hubs and clean mobility asset acquisition.
He also named other solutions as fleet conversion and infrastructure financing for businesses and institutional participants within the ecosystem.
He said the collaboration with the Pi-CNG and EV team would further strengthen the bank’s growing position within Nigeria’s sustainability and developmental finance landscape.
Ajani-Lawal said the bank had played a strategic role in supporting financing initiatives within Nigeria’s renewable energy and infrastructure ecosystem through engagements with the Rural Electrification Agency (REA).
He said the bank also signed a N100 billion renewable energy financing initiative, aimed at expanding clean energy access and sustainable infrastructure development in the country.
The managing director said the collaboration with Pi-CNG and EV had further positioned LOTUS Bank at the forefront of sustainable finance and green mobility financing in the country.
He said the partnership reinforced the bank’s commitment to supporting initiatives that promoted energy transition, economic inclusion, infrastructure development and national growth.
Ajani-Lawal quoted the Deputy Chief of Staff to the President, Ibrahim Hadeja, who represented the Vice President, Kashim Shettima, as saying that the initiative was a critical economic strategy aimed at reducing transportation costs, strengthening energy security and improving the lives of citizens.
