CNG&EV Partners for Clean Mobility Financing in Abuja

On Wednesday, a Memorandum of Understanding (MoU) was signed in Abuja between CNG&EV, CrediCorp, NCGC, and Moniepoint MFB to support a clean mobility initiative financing. The agreement aims to provide a framework for consumer credit and credit guarantee services, enabling Nigerians to convert vehicles from petrol and diesel to compressed natural gas (CNG), a cheaper and cleaner fuel alternative.

Bar Ismail Ahm, Executive Chairman of CNG&EV, described the partnership as a practical step towards sustainable energy transition. He emphasized the importance of financing in enabling widespread vehicle conversion and highlighted the need for public trust in the energy transition system.

The initiative reflects the federal government's commitment to providing sustainable alternatives amidst rising fuel costs. Key figures from the partnering organizations, including Uzoma Nwagba (CrediCorp), Prof. Ezekiel Oseni (NCGC), and Tobi Amira (Moniepoint MFB), reaffirmed their commitment to accelerating the adoption of CNG and electric vehicles as part of the government's efforts to reduce transport costs and promote energy efficiency.