PiCNG & EV has launched a Vehicle Conversion Financing Scheme in partnership with Moniepoint, CrediCorp and the Nigerian Credit Guarantee Company.
The scheme, aims to provide financing options for Nigerians seeking to convert vehicles and tricycles to Compressed Natural Gas (CNG). It is intended to reduce the upfront costs associated with such conversions.
The launch aligns with President Bola Ahmed Tinubu’s directive for the nationwide deployment of 100,000 CNG conversion kits. The financing framework is designed to support broader access to conversions.
Executive Chairman of the Presidential Initiative on Compressed Natural Gas (PiCNG & EV), Ismaeel Ahmed, said the initiative combines elements of the government’s agenda on credit access and transportation costs.
“This initiative is designed to make it easier and more flexible for Nigerians who want to convert their vehicles and tricycles to CNG, without facing the heavy financial burden that often stands in the way,” Ahmed stated.
He noted that the scheme brings together aspects of expanding credit access and lowering transportation costs.
“For me personally, this was one of the defining moments of my time at PiCNG & EV. Unlocking cheaper mobility for our people is not just a policy objective. It is central to the President’s vision, and it is deeply important to me as well,” Ahmed added.