First City Monument Bank (FCMB) has launched a loan scheme offering up to N30 million to help Nigerian households and small businesses acquire solar panels, batteries, inverters, and other clean energy equipment. According to FCMB, the initiative aims to reduce financial burdens on businesses, enabling them to allocate resources more effectively for growth, with a three-year repayment plan.
The bank stated that this loan enhancement is aligned with its mission to promote sustainable energy solutions and support Nigeria’s target of achieving net-zero emissions by 2060. By helping to offset rising energy costs following the recent fuel subsidy removal, FCMB reinforces its commitment to climate action and reliable energy access.
FCMB Managing Director Yemisi Edun highlighted the impact of this program on Nigeria’s renewable energy sector. “This loan provides households and businesses with affordable funding for clean energy solutions, supporting sustainable growth while also addressing the rising fuel prices from the subsidy removal,” Edun said. “We’re committed to helping people and businesses succeed and supporting the government’s vision for a stable, sustainable power supply.”
Group Head of Business Banking, George Ogbonnaya, emphasized that the loan program is designed to support job creation, economic growth, and environmental sustainability. “This energy finance loan is affordable, easily accessible through a digital process, and crucial for helping businesses thrive and promoting sustainability,” he noted.
FCMB recently received recognition from the Development Bank of Nigeria, being awarded as the ‘Best Bank for Impact on MSMEs Accessing Credit for the First Time in Nigeria’ and for the ‘Highest Disbursement to Sustainability Projects.’ FCMB is a member of FCMB Group Plc.
