- PI-CNG CEO Michael Oluwagbemi emphasized the fund’s inclusivity
The Ministry of Finance Incorporated, Nigerian Consumer Credit Corporation (CREDICORP), and the Presidential Initiative on Compressed Natural Gas (PI-CNG) have launched the Credit Access for Light and Mobility (CALM) Fund in Abuja.
The fund aims to provide affordable credit for converting vehicles to Compressed Natural Gas (CNG) and adopting solar energy solutions.
PI-CNG CEO Michael Oluwagbemi emphasized the fund’s inclusivity, offering access to civil servants, private sector employees, and verified entrepreneurs. The initiative seeks to convert up to one million vehicles, helping individuals reduce transportation and energy costs.
Oluwagbemi highlighted the fund’s flexible financing, allowing Nigerians to switch to CNG and solar power without upfront expenses, addressing rising fuel prices and living costs. The fund also involves partnerships with financial institutions to facilitate sustainable energy access.