CALM Fund: FG is Offering Loan to Civil Servants, Teachers, and General Public for CNG and Solar Energy – Apply Now following the guidelines below..
In response to rising energy and transportation costs, the Nigerian government has introduced the Credit Access for Light and Mobility (CALM) Fund. This initiative, launched by the Ministry of Finance Incorporated (MOFI), CREDICORP (Nigerian Consumer Credit Corporation), and the Presidential Initiative on CNG (PI-CNG), offers affordable loan opportunities to Nigerians, including civil servants, teachers, and the general public.
The fund focuses on two key areas: vehicle conversions to Compressed Natural Gas (CNG) and solar energy adoption. The CALM Fund will help reduce costs associated with rising fuel and electricity prices while promoting sustainability and environmental consciousness.
Why the CALM Fund Matters
- CNG Vehicle Conversions:
This aspect of the CALM Fund offers financial assistance for Nigerians to convert their vehicles from petrol or diesel to Compressed Natural Gas (CNG). As a cleaner, cheaper alternative to petrol, CNG reduces overall transportation costs, making it an affordable option for many Nigerians. By encouraging vehicle conversions to CNG, the initiative not only helps drivers save on fuel but also supports Nigeria’s environmental goals by lowering harmful emissions. - Solar Energy Solutions:
Rising electricity costs and unreliable power supply are ongoing challenges for many Nigerian households and businesses. The CALM Fund addresses this by providing loans for solar energy adoption, enabling individuals and businesses to install solar panels to meet their energy needs. This helps reduce reliance on traditional electricity sources, leading to long-term savings on energy bills and encouraging the shift towards renewable energy.
Key Benefits of the CALM Fund
- Affordability: The loans provided through the CALM Fund are designed to be affordable for everyday Nigerians. They offer flexible payment plans that ease the financial burden on civil servants, teachers, and the general public.
- Sustainability: By funding CNG vehicle conversions and solar energy installations, the initiative actively supports environmentally friendly energy solutions. This move helps promote a greener Nigeria while addressing the nation’s energy challenges.
- Support for Civil Servants and Teachers: One of the unique benefits of the CALM Fund is its targeted support for specific groups, particularly civil servants and teachers. These individuals are often on fixed incomes and may struggle with rising costs of transportation and energy. The CALM Fund provides them with an opportunity to transition to more sustainable and cost-effective alternatives.
How to Apply for the CALM Fund
Interested Nigerians, especially civil servants, teachers, and members of the general public, can apply for the CALM Fund loan by following these steps:
- Visit the CREDICORP Website:
Go to https://www.credicorp.ng/apply and create an account. This will serve as your entry point for submitting an application. - Complete the Online Registration Form:
Fill out the registration form with the required information, including your National Identity Number (NIN), valid email address, and passport photograph. You’ll also need to specify whether you’re applying for a CNG vehicle conversion loan or a solar energy loan. - Choose a Conversion Center or Solar Installer:
Once your application is submitted, you’ll be linked to an accredited CNG conversion center or a registered solar installer. This ensures that all conversions and installations are carried out by certified professionals. - Receive Confirmation:
Upon submission, your application will be reviewed. Successful applicants will receive a confirmation notification and will be guided on the next steps, including loan disbursement and conversion or installation appointments.
Closing Date for Applications
The closing date for applications to the CALM Fund is 31st December 2024. Interested applicants must apply well before the deadline to increase their chances of being selected for this beneficial loan program.
The CALM Fund represents a significant step towards creating a more sustainable, cost-effective future for Nigerians. By offering affordable financing for CNG vehicle conversions and solar energy solutions, the federal government is ensuring that Nigerians, particularly civil servants and teachers, can navigate rising costs with ease while contributing to a greener economy.
Don’t miss out on this opportunity—apply today and take the first step toward energy savings and sustainability.
