Experts Urge Faster Electric Vehicle Adoption in Nigeria

Experts have called for the accelerated adoption of electric vehicles (EVs) in Nigeria, driven by the continuous rise in fuel prices that is squeezing household incomes and business margins. This call was made during a press statement issued on Wednesday following discussions at the Abuja Compact Electric Mobility Roundtable.

Stakeholders noted that the persistent increase in petrol prices necessitates a shift in Nigeria's transportation approach towards EVs, which offer significant cost advantages. Omolara Obiley, representing PICNG, highlighted that a 200-kilometer journey in an EV costs approximately N4,500, compared to N22,500 for petrol, representing a fivefold cost advantage.

The government is focusing on a gradual transition to a sustainable energy mix, with challenges including infrastructure gaps and power supply issues. Yusuf Suleiman, CEO of Blue Camel Energy Ltd, emphasized that investing in solar power charging infrastructure could reduce reliance on the national grid.

The need for tailored financing models to support EV adoption was also discussed, with Moham Abdul from Altern Bank highlighting the importance of addressing barriers in the informal transport sector.