KEY POINTS
- Corporate and commercial fleets are currently the strongest drivers of electric vehicle adoption in Nigeria.
- High-usage operators can recover EV investment costs within 2–4 years through fuel and maintenance savings.
- Infrastructure gaps, financing limitations, and policy support remain the biggest hurdles to nationwide EV expansion.
Electric mobility in Nigeria is gaining measurable traction, not from individual car buyers but from structured organisations running commercial fleets, according to Seun Oluwalade, chief executive of EV World Africa.
He explained that sectors such as last-mile logistics, FMCG distribution, ride-hailing, staff transportation, and institutional vehicle systems are currently leading adoption because their operations naturally align with electric vehicle efficiency.
These organisations typically operate predictable routes, maintain centralised depots, and incur heavy fuel costs, conditions that make electrification both practical and economically attractive.
Oluwalade noted that for many companies, the shift to electric vehicles is no longer driven primarily by sustainability branding but by financial logic. High-utilisation fleets are increasingly adopting EVs to cut operating costs and reduce downtime.
When companies analyse total cost of ownership rather than upfront purchase price, electric vehicles can outperform petrol or diesel models within two to four years due largely to lower maintenance needs and energy expenses. This financial advantage is becoming a decisive factor in adoption decisions.
Integrated transition strategies simplifying adoption
He stated that his firm works as a comprehensive electrification partner helping organisations transition from conventional vehicles to electric systems.
This support includes sourcing vehicles suited to local operating conditions through partnerships with manufacturers and assemblers, ensuring compliance and technical validation, building charging infrastructure, running pilot programmes, training personnel, and monitoring fleet performance.
According to him, this integrated structure removes complexity and reduces the risk associated with adopting new transport technology.
Despite growing momentum, Oluwalade pointed out that adoption still faces significant hurdles. The most immediate challenge is the high initial cost of vehicles and charging infrastructure, combined with limited access to financing tailored specifically for EV purchases.
Companies also worry about charging reliability, national grid stability, and shortages of trained technicians capable of maintaining electric vehicles. However, he stressed that these barriers are gradually easing as technology improves and more operators gain practical experience.
