Abuja, May 18, 2026 LOTUS Bank, a non-interest financial institution, has entered into a partnership with the Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG and EV) to promote the adoption of cleaner and more cost-effective transportation solutions in Nigeria.
The collaboration, announced in Abuja on Monday by the bank’s Managing Director, Dr Isiaka Ajani-Lawal, is aimed at expanding infrastructure for CNG and electric vehicles across the country.
Ajani-Lawal said the agreement was formalised during the launch of the Northern Corridor of the CNG and EV Programme held in Kano.
He explained that the initiative is intended to speed up the transition to sustainable mobility options that are both environmentally friendly and affordable.
According to him, LOTUS Bank remains committed to supporting projects that deliver long-term social and economic benefits to Nigerians.
He added that sustainable finance should extend beyond traditional banking to include meaningful contributions to sectors driving national development.
Ajani-Lawal said the partnership reflects the bank’s focus on ethical financing, energy transition and inclusive economic growth.
He noted that the bank will support financing across the CNG value chain, including clean mobility asset acquisition, integrated energy hubs, fleet conversion and infrastructure development for businesses and institutions.
He added that the collaboration further strengthens the bank’s role in Nigeria’s sustainability and developmental finance space.
The managing director also recalled the bank’s previous involvement in renewable energy initiatives, including collaboration with the Rural Electrification Agency (REA) and a N100 billion renewable energy financing programme aimed at expanding access to clean energy.
He said these efforts position LOTUS Bank as a key player in green financing and infrastructure development in the country.
Ajani-Lawal further stated that the partnership aligns with broader national goals on energy transition, economic inclusion and infrastructure growth.
He quoted the Deputy Chief of Staff to the President, Ibrahim Hadeja, who represented Vice President Kashim Shettima, as describing the initiative as a strategic intervention designed to reduce transport costs, improve energy security and enhance citizens’ welfare.