Stanbic IBTC Bank, LOXEA BYD Partner to Accelerate Electric Vehicle Financing in Nigeria
In a significant step towards promoting sustainable transportation in Nigeria, Stanbic IBTC Bank has announced a strategic partnership with LOXEA Nigeria, the exclusive distributor of BYD electric and hybrid vehicles in the country and a subsidiary of CFAO Mobility. This alliance aims to provide Nigerians with innovative, flexible financing options to make eco-friendly mobility more accessible and affordable, reinforcing both organizations’ commitment to environmental sustainability and renewable energy.
The official launch took place during an exclusive showcase at the BYD showroom in Victoria Island, Lagos. Visitors experienced a display of the latest BYD electric models, engaged with industry experts, and explored tailored vehicle financing solutions from Stanbic IBTC. To encourage early adoption, the initiative features special one-month incentives, including vendor discounts and reduced interest rates on vehicle loans.
Executives from both organizations delivered inspiring speeches emphasizing their shared vision of a cleaner, more efficient transportation landscape in Nigeria.
Olu Delano, Executive Director at Stanbic IBTC Bank, remarked: “This partnership highlights our commitment to empowering Nigerians with green mobility options that are not only environmentally responsible but also cost-effective and practical for everyday use. By integrating LOXEA BYD’s innovative electric vehicles with our flexible financing solutions, we are driving Nigeria toward a sustainable future.”
Mehdi Slimani, Managing Director of LOXEA Nigeria, stated: “At LOXEA, we are proud to lead Nigeria’s transition to cleaner mobility. Distributing BYD’s advanced electric vehicles and offering comprehensive fleet and mobility solutions enables us to present a truly future-ready alternative. Our collaboration with Stanbic IBTC marks a pivotal step in making electric vehicles more accessible and practical for Nigerian drivers. Together, we are shaping a smarter, greener transport ecosystem.”
The event generated considerable excitement among participants from various sectors, reflecting increasing interest in sustainable automotive innovations. Models like the BYD ATTO 3 and BYD Dolphin were showcased as ideal options for urban mobility, promising lower operational costs, reduced fossil fuel dependence, and a smaller environmental impact.
Looking ahead, this partnership positions Stanbic IBTC Bank as a key catalyst in Nigeria’s renewable energy journey by expanding access to sustainable transport solutions. Through collaborations like this, the bank continues to pioneer innovative financial services tailored to eco-conscious consumers.