LOTUS Bank, a non-interest bank and financial advisory services provider, is collaborating with the Presidential Initiative on Compressed Natural Gas and Electric Vehicles (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, asserting that the initiative was designed to accelerate the adoption of cleaner, more affordable and sustainable mobility alternatives.
The managing director disclosed that the agreement was sealed at the inauguration of the Northern Corridor of the Compressed Natural Gas (CNG) and Electric Vehicle (EV) Programme in Kano adding that the collaboration is geared towards the expansion of CNG and EV infrastructure nationwide. He also said the bank remains 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.
Commenting further, the MD noted that 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 initiatives as fleet conversion and infrastructure financing for businesses and institutional participants within the ecosystem, and added that 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 emphasized that the bank has played a strategic role in supporting financing initiatives within Nigeria’s renewable energy and infrastructure ecosystem through engagements with the Rural Electrification Agency (REA). Furthermore, he disclosed that the bank had 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 has further positioned LOTUS Bank at the forefront of sustainable finance and green mobility financing in the country and also said the partnership reinforced the bank’s commitment to supporting initiatives that promoted energy transition, economic inclusion, infrastructure development and national growth.