 Why Electric Vehicles Are Increasing in Nigeria? Electric vehicles, EVS, are already being driven by millions of people worldwide, and sales are expected to rise further. In the first half of 2021, EVS accounted for 7.2% of the global market share of all new vehicles, nearly trebling what it was in 2019. According to the International Energy Agency IEA, there will be 145 million electric vehicles on the road by 2030, accounting for approximately 7% of all new and used vehicles registered in that year. Electric vehicles are also gaining popularity in Nigeria. In June 2021, Nigerian Vice President Yemi Asanbajo unveiled the first made in Nigeria EV, the Hyundai Kona by Stallion Motors. The National Automotive Design and Development Company inaugurated the country's first electric vehicle charging station at Usmanu Danfidio University in Sokoto, Nigeria's Northwestern state in April. Furthermore, EV deployment in Nigeria has the potential to promote renewable energy development with a bi-directional charging plan. Implementing electric vehicles could also reduce emissions, reduce energy sector investments, and eliminate the need for costly petroleum subsidies. Hello and welcome to Africa Reloaded. Today's topic is the use of electric vehicles in Nigeria. Join us on this journey to learn more about the benefits and challenges that Nigerians face with the electric vehicles. Benefits of Electric Vehicles The reduced environmental impact is one of the most significant benefits of driving an electric vehicle. Because pure electric vehicles lack a tailpipe, they emit no exhaust gases, reducing local air pollution, particularly in congested cities. There are no tolls. In some areas, clean air zones are being established, with levies aimed at discouraging polluting vehicles from entering designated areas. The fact that an electric vehicle is exempt from these fees is a significant benefit. Lower Operating Costs In comparison to a gasoline vehicle, an electric vehicle costs less than 1.30 euros to travel 100 miles based on our Go Electric 35 pricing during off-peak hours. There are also lower or no car taxes, as well as lower or no servicing and maintenance costs. Renewable Electric Vehicle Rates Our EV electricity rates are all renewable. You can power your electric car and home with our Go Electric pricing. Improved Driving EVs have more sensitive acceleration and regenerative braking when you take your foot off the gas pedal. Because they have a low center of gravity, they are easier to handle, more comfortable and safer. EV Awards There are a few programs available to help with the transition to electric vehicles. The government provides assistance with home and workplace charging stations, as well as the purchase of a new electric vehicle. Parking is Free Electric vehicles can frequently find free, priority or dedicated parking spots that are conveniently located. Electric car owners, for example, can park for free in over 15,000 city center bays in Milton Keynes. Electric vehicles are significantly quieter than gasoline and diesel vehicles. Electric vehicles must now have an acoustic vehicle alert system, a VIA-S, that emits a sound when reversing or traveling less than 12 miles per hour, 19 kilometers per hour. Key Challenges Overlaying EV Commercialization in Nigeria High upfront cost. EVS have a much higher initial capital outlay than internal combustion engine vehicles. Despite being less expensive over their lifetime, I see EVS. A new electric vehicle costs $55,600, approximately $23 million, on average, according to Cox Automotive. This is far more than the $2 million average annual salary of ordinary Nigerians in Lagos. To make EVS appealing to Nigerians, upfront costs must be lower than the cost of use I see EVS, which will be difficult to achieve in the absence of financial incentives. Lack of infrastructure and technical know-how. Public EV-charging infrastructure is virtually non-existent in Nigeria, and there is currently no plan in place to expand it. Roadside mechanics in Nigeria are typically untrained in repairing I see EVS and have little to no experience with EV maintenance. Access to Electricity and Reliability Gap With over 85 million people without access to grid electricity, Nigeria has the world's largest energy access gap, and those who do have it frequently lack the consistent supply that EV require. Nigerian policymakers are faced with a quandary whether to prioritize limited energy supply for EV services when they are already struggling to provide dependable vital services such as lighting. Political entrenchment of oil and gas Nigeria depends on crude oil exports for nearly 90% of its foreign revenue, raising serious concerns about the future of fossil fuels. Nigerian officials may be concerned about the effects of the global EV industry maturing on Nigeria's crude oil exports to Europe and Asia, as well as reduced local demand. Because of political and economic realities in the oil and gas industry, the Nigerian Senate rejected a plan to phase out fossil fuel vehicles by 2030 in April 2019. Future Possibilities and Priorities Significant fiscal and non-fiscal policies and initiatives will be required to accelerate the adoption of electric vehicles in Nigeria. Currently, Nigeria can prioritize the following strategies. Tap into the use EV market. Importing used vehicles from other countries is one method of lowering the initial cost of electric vehicles. In contrast to ICEVS, whose emissions intensity can increase over time and due to a lack of maintenance, EVS produced no tailpipe emissions regardless of their age. Nigeria could use its existing structure for importing used vehicles to encourage the importation of used electric vehicles. Introduce novel charging infrastructure business models. The Nigerian government is already overburdened with the task of providing basic electrical access to millions of people who lack access to modern energy. Regardless, the government can liberalize the charging infrastructure market in order to encourage private sector participation. Lessons from the country's innovative business models for accelerating mini-grid construction can be applied to EV charging infrastructure to make it more appealing to investors, customers, and the government. Create a comprehensive electric vehicle policy. While Nigeria's automotive vehicle policy favors domestic production and supports domestic automakers, it remains silent on the development of electric vehicles. To start a serious discussion about EV deployment in Nigeria, the government must first create a solid EV policy framework with targets and rules that are backed up by legislation. Investigate new tax incentives. The primary reason for low car ownership in Nigeria is high import taxes. Fiscal incentives for electric vehicles, such as the elimination of the import fee, a value-added tax, and lower car insurance could make them more appealing and affordable to Nigerians. Make use of your peers' knowledge. East African countries, particularly Kenya, are investing heavily in two and three-wheeler electric vehicles due to their lower cost and ease of adoption. Nigeria has a large number of two and three-wheelers, Akata and KeekNapub, that are primarily used for intra-city commercial transportation. By focusing on these types of vehicles, Nigeria can quickly assess the viability of EVS in the country. When four-wheeler EVS become more common, introducing smaller EVS first can aid in the establishment of multiple charging stations in rural and urban areas, thereby closing the charging infrastructure gap. Form EV education collaborations in Nigeria. To increase EV acceptance, politicians, oil companies, I see EV mechanics and Nigerian citizens all require more credible information. Credible EV education is required to avoid potential anxiety and misinformation about the potential disruptions and benefits that EVS could bring to the conventional vehicle market. and the national economy as a whole. Electric vehicles are a great venture into Nigerian society and would be for Africa once all of the challenges associated with them are overcome and definite solutions to ensure that these vehicles run smoothly are provided. 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