LOTUS Bank has joined forces with the Federal Government to support the expansion of cleaner transportation options through the Compressed Natural Gas and Electric Vehicle initiative recently launched in Kano State.The partnership was unveiled during the inauguration of the Northern Corridor of the CNG and EV Programme, a project introduced under the Presidential Initiative on CNG and EV.
The programme is aimed at encouraging the use of cleaner, cheaper and more sustainable transportation alternatives across the country. Representing Vice President Kashim Shettima at the event, Deputy Chief of Staff to the President, Ibrahim Hadeja, described the initiative as an important economic strategy that could reduce transport costs and strengthen Nigeria’s energy security.
According to him, “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.” As part of the collaboration, LOTUS Bank will provide financial support across different parts of the CNG value chain. This includes funding for integrated energy hubs, vehicle acquisition, fleet conversion projects and infrastructure development for businesses and institutions participating in the clean energy transport ecosystem. The bank explained that the partnership aligns with its commitment to supporting sustainable development and economic growth in Nigeria. The initiative is also expected to encourage wider adoption of alternative energy solutions as the country seeks to reduce dependence on petrol and lower transportation expenses.
Managing Director and Chief Executive Officer of LOTUS Bank, Isiaka Ajani Lawal, reaffirmed the bank’s commitment to projects capable of creating long term economic and social benefits for Nigerians. He was represented at the event by the bank’s Regional Head for the Northeast and Northwest, Nazif Ibrahim.
Speaking during the programme, 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.” Nigeria has continued to promote the adoption of CNG and electric vehicles following the removal of fuel subsidy and rising transportation costs. The Federal Government believes expanding gas powered and electric mobility infrastructure will help provide more affordable transport options while also supporting environmental sustainability.
Industry experts say collaborations between financial institutions and government agencies could play a major role in accelerating investments in green mobility infrastructure across the country. Such partnerships are expected to support vehicle conversion centres, charging stations, energy hubs and financing solutions for businesses willing to transition to cleaner energy alternatives.
The launch of the Northern Corridor programme in Kano is seen as part of broader efforts to deepen access to sustainable transport solutions, especially in northern Nigeria, while also boosting economic activities linked to the clean energy sector.
