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Breaking: FG Approves ₦151.9 Billion For Massive Electric Vehicle Rollout

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Breaking: FG Approves ₦151.9 Billion For Massive Electric Vehicle Rollout

The Federal Government has authorized contracts worth $100 million (approximately ₦151.9 billion) for the procurement of electric buses and tricycles, along with the establishment of charging infrastructure across Nigeria…….READ MORE 

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According to a statement issued on Sunday by Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, the initiative aims to introduce 10,000 electric vehicles in the North-East region.

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Onanuga further disclosed that the Federal Executive Council (FEC) recently granted final approval for the project’s execution.

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With this approval, electric buses and tricycles will be supplied, and charging stations will be installed.

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The statement detailed the breakdown of the contracts as follows:

  • Bluecrest Integrated Concept Limited will deliver ten 17-seater electric buses within six months at a cost of ₦2.9 billion.
  • Messrs Mutual Commitment Company Limited is set to supply 4,000 electric tricycles within nine months for ₦49.6 billion.
  • Shanghai Integrated Infrastructure Development will provide 3,000 electric tricycles at ₦37.2 billion.
  • Sinoma Investment International Limited is also contracted to deliver 3,000 electric tricycles.
  • Each tricycle will accommodate nine passengers plus the driver.
  • Messrs HNCEGC will supply 100 BYD Dolphin EVs, 100 BYD Qin Plus EVs, and 37 BYD Yuan Plus EVs for ₦16.3 billion.
  • KB Laman Motors Nigeria Limited has been contracted to establish charging stations for both electric buses and tricycles at a cost of ₦8.4 billion.
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The North East Development Commission will oversee the funding for this initiative, aligning with its objectives to reduce carbon emissions and promote energy efficiency.

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President Tinubu had initially approved the electric vehicle procurement in October 2024 and personally inspected sample vehicles, charging stations, and battery units before final approval.

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