Nigeria can lead Africa’s EV revolution with right policies, investment – EMVC CEO

Nigeria has the potential to emerge as Africa’s leader in electric vehicle (EV) production and adoption if the right policies and investments are put in place, Prince Mustapha Audu, Chief Executive Officer of Electric Motor Vehicle Company (EMVC), has said.

Speaking in an interview with BusinessDay on the prospects of the country’s e-mobility sector, Audu described the industry as nascent but filled with significant opportunities, noting that Nigeria is well-positioned to compete globally due to its abundant natural resources and growing market demand.

According to him, Africa, particularly Nigeria hosts a substantial share of the raw materials required for EV production, including lithium and other rare earth elements found in commercial quantities in states such as Nasarawa and Kogi.

He said harnessing these resources locally could enable Nigeria not only to meet domestic demand but also to become a major export hub for electric vehicles across Africa.

“China is the hub, but if you look at it, the majority of the resources needed to make electric vehicles emanate from Africa, especially Nigeria. The rare earth metals that the world is craving for right now originate from Africa.

“Nigeria has one of the largest lithium-ion deposits, especially in Nasarawa State, Kogi State, there’s a lithium-ion belt, so the deposits are tremendous and I think that with enough investment and awareness, Nigeria can be the market leader in Africa, especially because if you look at it, climate change is real and is affecting us in Africa.

“ So if Nigeria capitalizes on this, there’s a huge opportunity that we can serve the world, we can be that alternative to China.

“I mean, China is doing a fantastic job, absolutely amazing. They’ve set the path and it’s something that we would love to learn from and build upon because the EV penetration is quite low,” Audu said.

Despite the potential, he identified low consumer awareness as a major barrier to adoption, noting that many Nigerians still lack a clear understanding of how electric vehicles function and their long-term benefits.

He explained that misconceptions around electricity supply continue to discourage uptake, even though EVs are battery-powered and can be charged using alternative energy sources such as solar power.

“People often question how they will charge their vehicles due to power challenges, but the same people charge their phones and use other battery-powered devices daily,” he said.

Audu added that the removal of fuel subsidies has inadvertently boosted interest in EVs, as rising petrol costs push consumers and businesses to explore more cost-effective alternatives.

He noted that EMVC offers a range of electric mobility solutions, from two- and three-wheelers to passenger vehicles and commercial models, targeted at different income levels, with prices designed to compete with internal combustion engine (ICE) vehicles.

However, he said inadequate infrastructure remains a critical challenge, with fewer than 30 public charging stations currently available nationwide.

To address this gap, EMVC said it has deployed about eight charging stations and is expanding its network, with plans to scale up significantly in the near term. The company also operates battery swap systems and is developing local capacity for battery and charger assembly.

Beyond infrastructure, Audu pointed to limited access to financing as a major constraint for industry players, noting that high interest rates in Nigeria often exceeding 20 percent makes it difficult for local manufacturers to scale operations.

He stressed the need for deliberate government intervention to support indigenous companies through favourable policies, low-cost financing, and incentives that encourage local production.

Read also: Federal Government moves to unlock N300bn in dormant land assets

While acknowledging ongoing government support, including the extension of import duty exemptions to EVs, Audu said more targeted legislation is required to accelerate growth and protect local players.

He also called for policies that mandate foreign investors to partner with Nigerian firms, arguing that such collaboration would facilitate technology transfer and strengthen domestic capacity.

“The global transition away from fossil fuels is already underway, and Nigeria must position itself strategically to benefit from this shift,” he said.

Audu emphasised that investments in compressed natural gas (CNG) should be treated as a short-term measure, urging policymakers to prioritise long-term development of the EV ecosystem.

“I think that the sector, especially investment in CNG, should go pari passu with investment in electric vehicles. Yes, CNG is an intervention, but if you know it’s an intervention stopgap, then you must prepare for what comes after, because the world has decided no more production of CNG vehicles by 2030 and no more sales of CNG vehicles by 2035.

Read also: US, UK top Lagos Detty December arrivals as diaspora spending hits N396bn

“So what happens to all the investment that the government is making right now into the CNG sector? And this is because the CNG canisters themselves have a 15-year shelf life for the really good ones. So after 15 years, they become explosives,” he stated

He warned that without deliberate action, Nigeria risks missing out on the economic and environmental benefits of the transition, including job creation, industrial growth, and foreign exchange earnings.

As part of efforts to build local capacity, EMVC noted that it has partnered with educational institutions, including the National Open University of Nigeria and technical colleges, to train engineers and technicians in EV maintenance and production.

“So we believe that we’re contributing our own quota to the sector. We work in different parts of the ecosystem to make sure that Nigeria is the industry leader in EVs.

“We’ve trained hundreds of people. I can’t tell you the exact figure, but I know that we’ve certified well over more than 100 people.

“ Now we’re partnering with the National Open University, we’re going to go nationwide,”

The company has also engaged with state governments and industry stakeholders to expand its footprint and promote adoption across the country.

“With the right environment, Nigeria can not only meet its local demand but also produce for Africa and the rest of the world,” Audu said.