Abuja: The Founder of NEV Electric Ltd, Mr. Mosope Olaosebikan, has announced the company's commitment to leveraging local manufacturing and clean energy to tackle Nigeria's mass transit issues. Olaosebikan shared this vision during an interview with the News Agency of Nigeria (NAN).
According to News Agency of Nigeria, as Nigeria celebrates 65 years of independence, the focus is shifting from political sovereignty to achieving economic and industrial self-reliance. Within the transport sector, NEV Electric Ltd is poised to play a significant role in this transition by utilizing local resources to address the country's transit challenges. Historically, Nigeria's public transportation has been dependent on imported vehicles and fossil fuels, which has exposed the country to fuel price volatility and increasing costs. NEV Electric aims to change this by implementing an integrated model that focuses on local assembly, enhanced local content manufacturing, and sustainable infrastructure.
Olaosebikan highlighted that the company currently produces electric buses with 30 percent local content, incorporating Nigerian components, materials, and labor. The goal is to increase this local content to 70 percent as domestic supply chains grow. NEV Electric is not merely assembling buses; it is actively contributing to Nigeria's transport future, driven by clean energy, local innovation, and sustainable systems.
Additionally, the company is installing 160kW high-capacity fast chargers in Abuja and Lagos, the largest in Nigeria, to support fleet operations and mitigate range anxiety for operators. NEV Electric is also investing in training programs for Nigerian engineers and technicians, focusing on EV assembly, maintenance, and conversion, which will empower a new generation of green-skilled workers.
Aligned with Nigeria's industrialization goals, NEV Electric is positioning the country as a regional hub for electric mobility. By integrating local manufacturing, charging infrastructure, and innovative financing, NEV Electric is providing a homegrown solution to Nigeria's urban transport needs. The News Agency of Nigeria reports that, due to climate change concerns, many countries are transitioning from fossil fuel-powered vehicles to electric vehicles, which are considered more environmentally friendly.
An International Energy Alliance (IEA) report projects that over 17 million electric vehicles will be sold in 2024, accounting for more than 20 percent of new car sales globally that year.