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

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

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.

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

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

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.

The North East Development Commission will oversee the funding for this initiative, aligning with its objectives to reduce carbon emissions and promote energy efficiency.

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.