The Executive Chairman of PiCNG & EV, Barr. Ismaeel Ahmed, has announced the launch of a Vehicle Conversion Financing Scheme aimed at accelerating the adoption of compressed natural gas (CNG) across Nigeria.
The scheme, unveiled in partnership with Moniepoint, CrediCorp, and the Nigerian Credit Guarantee Company, is designed to provide flexible and accessible financing options for Nigerians seeking to convert their vehicles and tricycles to CNG.
Ahmed described the initiative as a critical step toward removing the financial barriers that have slowed widespread adoption of cleaner and more affordable fuel alternatives.
“This financing framework ensures that Nigerians can make the transition to CNG without the burden of upfront costs, making the process more practical and accessible,” he said.
The development aligns with the directive of President Bola Ahmed Tinubu for the rapid nationwide deployment of 100,000 CNG conversion kits. While infrastructure rollout continues, Ahmed noted that building a strong financial support system is essential to achieving scale and inclusivity.
According to him, the initiative reflects a broader policy alignment with two key pillars of the administration’s reform agenda—expanding access to credit and reducing transportation costs.
“This is how policy should work—integrated and impactful. Beyond infrastructure and supply, success will ultimately be measured by whether Nigerians can afford to make the switch,” he added.
Ahmed emphasised that the programme is not only about energy transition but also about improving everyday economic realities, noting that cheaper mobility remains central to the government’s broader vision for economic relief and productivity.
He described the launch as a defining milestone for PiCNG & EV, underscoring its role in translating policy into tangible benefits for citizens.
