Nigeria's Electric Vehicle Market: Insights from Oyeyemi

Boboye Oyeyemi, the former Marshal of the Federal Road Safety Corps, disclosed during an interaction with journalists that Nigeria possesses a vast market for electric vehicles. He emphasized that investors in this sector will not regret their decision.

Oyeyemi noted that Nigeria remains one of the largest automotive markets in Africa and highlighted the extensive opportunities available in assembling components and providing aftermarket services. Speaking at the 30th anniversary of the Chartered Institute of Logistics and Transport in Calabar, he urged the federal government to adopt long-term automotive policies that focus on local value creation rather than frequent policy changes, which he argued add little to the economy.

Oyeyemi lamented that Nigeria has lost lives and families due to crashes that could have been prevented with effective automotive policies, pointing to South Africa, Morocco, and Ethiopia as models in the automotive world.