First City Monument Bank is offering up to N30m to help Nigerian households and small businesses procure solar panels, batteries, inverters, and other clean energy equipment.
According to a statement from the bank, the loan aims to ease financial pressures, allowing businesses to allocate more funds to growth and operations with a three-year repayment plan.
According to the statement, the loan enhancement is part of FCMB’s mission to promote sustainable energy solutions in Nigeria, supporting the country’s net-zero goals for 2060.
The offering also helps offset the increased energy costs following the removal of the fuel subsidy, reinforcing FCMB’s commitment to climate action and reliable power access.
The Managing Director of FCMB, Yemisi Edun, said upgrading energy finance loans will boost Nigeria’s renewable energy sector.
“This loan gives households and businesses easy access to affordable funding for clean energy solutions, supporting sustainable growth. It also helps offset the rising fuel prices caused by the removal of the fuel subsidy. At FCMB, we’re committed to helping people and businesses succeed while backing the government’s push for a stable and sustainable power supply,” she said.
Group Head of Business Banking at FCMB, George Ogbonnaya, said, “At FCMB, we are dedicated to helping businesses thrive. Our new energy finance loan helps businesses and homes access clean energy. It is affordable, accessible through a simple digital process, and designed to support job creation, boost our economy, and promote environmental sustainability.”