LOTUS Bank has entered into a strategic partnership with the Federal Government through the Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG & EV) to support Nigeria’s transition toward cleaner and more affordable transportation solutions.
The collaboration was announced during the launch of the Northern Corridor of the CNG and Electric Vehicle Programme in Kano State, an initiative aimed at accelerating the adoption of compressed natural gas (CNG) and electric vehicles (EVs) across the country.
According to the Federal Government, the programme is designed to reduce transportation costs, strengthen energy security, and promote environmentally sustainable mobility alternatives amid rising fuel and logistics costs nationwide.
Speaking at the event, Deputy Chief of Staff to the President, Ibrahim Hadeja, who represented Vice President Kashim Shettima, described the initiative as both an energy and economic strategy capable of lowering inflationary pressures linked to transportation and logistics.
As part of the partnership framework, LOTUS Bank will provide financing solutions across the clean mobility value chain, including support for CNG conversion, fleet acquisition, integrated energy hubs, and infrastructuredevelopment for businesses and institutional operators.
LOTUS Bank’s Managing Director and Chief Executive Officer, Dr. Isiaka Ajani-Lawal, said the bank remains committed to financing initiatives that create long-term economic and environmental impact. He noted that sustainable finance must go beyond conventional banking to support sectors critical to national development.
The initiative forms part of Nigeria’s broader clean energy transition strategy following the expansion of the Presidential CNG programme to formally include electric vehicles earlier in 2026. Under the revised mandate, Pi-CNG & EV is responsible for coordinating the rollout of CNG infrastructure, EV charging systems, conversion centres, and clean mobility investments nationwide.
Government officials disclosed that the programme has already attracted billions of dollars in investment commitments and onboarded hundreds of conversion partners nationwide. Kano was selected as the launch point for the northern corridor because of its strategic importance as a commercial and transportation hub in Northern Nigeria. Industry stakeholders believe increased access to financing will accelerate adoption of CNG and EV technologies by reducing the upfront costs of vehicle conversion and clean mobility infrastructure deployment. The transition is also expected to lower fuel costs for transport operators, reduce emissions, and create new opportunities within Nigeria’s green economy.
