MoU Signed for Clean Mobility Financing in Nigeria

On Wednesday, a landmark memorandum of understanding (MoU) was signed in Abuja between the Presidential Initiative on Compressed Natural Gas and Electric Vehicles (PI CNG EV) and major financial institutions including CrediCorp, the National Credit Guarantee Company (NCGC), and Moniepoint Microfinance Bank (Moniepoint MFB). This agreement aims to widen access to affordable financing for vehicle conversions to compressed natural gas (CNG) as part of Nigeria's clean mobility program.

Barrister Ismail Ahm, Executive Chairman of PI CNG EV, emphasized that the partnership is a practical step towards inclusive and sustainable energy transition, focusing on three core pillars: availability, acceptability, and affordability. The initiative seeks to lower cost barriers for commercial drivers and small-scale operators, aligning with the federal government's objectives to offer sustainable alternatives amidst rising fuel costs.

The event attracted various stakeholders from both government and the private sector, reinforcing the commitment to cleaner, affordable transport solutions.