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The Alternative Bank (AltBank) is actively promoting electric vehicle (EV) financing in Nigeria, aiming to integrate the country's transport sector into the formal financial system. This initiative comes at a time of increasing fuel prices.
President Bola Tinubu has announced the extension of the Presidential Initiative on Compressed Natural Gas to include electric vehicles, aiming to enhance clean transport, reduce expenses, and improve access to energy across the country.
In a significant policy shift, China has decided to ban hidden door handles on electric vehicles in response to safety issues. This regulation will compel manufacturers to implement design changes by the onset of 2027.
Wale Tinubu, the CEO of Oando, anticipates that more than half of Nigeria's vehicles will be electric in the next 20 years, thanks to the country's abundant gas resources and a shift towards electric mobility.
The Nigeria Youth in Parliament Forum has unveiled its ambitious plan to provide free training in information and communications technology and electric vehicle technology for over one million young Nigerians, while encouraging state governments to facilitate youth participation.
Following a meeting between Chinese President Xi Jinping and Canadian Prime Minister Mark Carney, it has been announced that both nations will foster a new strategic partnership characterized by trade concessions and enhanced cooperation on electric vehicles.
A recent study indicates that electric vehicles may become financially viable in numerous African nations prior to 2040, although challenges in infrastructure, particularly in Nigeria, hinder their widespread adoption.
