Nigeria, April 24 -- The Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG & EV) has signed a memorandum of understanding with major financial institutions to expand access to credit for Nigerians seeking to convert petrol and diesel vehicles to cleaner energy alternatives.

The agreement, signed in Abuja, brings together the Presidential Initiative on Compressed Natural Gas and Electric Vehicles, the Nigerian Consumer Credit Corporation (CrediCorp), the National Credit Guarantee Company Limited (NCGC), and Moniepoint Microfinance Bank Limited.

The Pi-CNG & EV is a federal government programme, under the Renewed Hope Agenda of President Bola Tinubu, established to drive the adoption of compressed natural gas...