First City Monument Bank (FCMB) has expanded its solar financing program, now offering up to ₦30 million to support Nigerian households and small businesses in purchasing solar panels, batteries, inverters, and other clean energy equipment. This initiative provides a repayment period of up to three years, aiming to alleviate financial pressures and enable businesses to allocate more resources toward growth and operations.

This enhancement aligns with FCMB’s commitment to promoting sustainable energy solutions in Nigeria, contributing to the nation’s net-zero goals for 2060. Additionally, it seeks to mitigate the increased energy costs following the removal of the fuel subsidy, reinforcing FCMB’s dedication to climate action and reliable power access.

Yemisi Edun, Managing Director of FCMB, stated, “This loan provides households and businesses with 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.”

George Ogbonnaya, Group Head of Business Banking at FCMB, added, “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.”

Over the past three years, FCMB has financed numerous projects, including solar and mini-grids, as well as energy-efficient plants. The bank has also provided free training to support development in the renewable energy sector. Recently, the Development Bank of Nigeria recognized FCMB as the “Best Bank for Impact on MSMEs Accessing Credit for the First Time in Nigeria” and for the “Highest Disbursement to Sustainability Projects.”

This initiative underscores FCMB’s ongoing efforts to build a sustainable ecosystem that connects people, capital, and markets across Africa, fostering inclusive and sustainable growth within its communities.