Federal Government launches CALM Fund, providing financial support for CNG conversions and solar systems to reduce energy costs
EPICSTORIAN — The Federal Government has announced that applications for the Clean Alternative to Light and Mobility, CALM Fund, credit is now open to Nigerians interested in financing Compressed Natural Gas (CNG) conversions and solar home systems.
This initiative, designed to lower energy expenses and reduce dependence on conventional fuel sources, is part of the nation’s push towards sustainable energy solutions.
Through this program, Nigerians can obtain financial support for converting petrol vehicles to CNG and installing solar power systems, both of which promise long-term cost savings.
CALM FUND Helps Subscribers Save On CNG Conversions and Solar Home Systems Bills
The CNG conversion program, executed under the Presidential Initiative on Compressed Natural Gas (PI-CNG), allows users to convert petrol-powered vehicles to CNG, with potential fuel cost savings of up to 80%.
“Within four to six months, these savings can cover the cost of conversion,” says a representative from PI-CNG.
The program positions CNG as a viable option for individuals seeking sustainable mobility and reduced fuel expenditures.
In addition, the CALM Fund supports solar energy adoption as qualified applicants can access financing for solar panels and inverters, which can reduce daily electricity expenses by up to 90%. Savings generated from these systems can offset setup costs in three to six months.
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This initiative is a collaborative effort between the Ministry of Finance Incorporated (MoFI), the Nigerian Consumer Credit Corporation (CREDICORP), and PI-CNG, targeting affordable energy solutions for Nigerians. Interested persons can apply here.
