The General Manager at SGX Mobility, Femi Oyefodunrin, says Nigeria’s growing shift toward electric mobility, supported by expanded government initiatives under PICNG, represents a major turning point for the country’s clean transport future.
Speaking during an interview with ARISE NEWS on Friday, on the expansion of electric vehicle inclusion within national clean mobility programmes, Oyefodunrin described the policy direction as a “huge” boost for industry players, particularly those focused on infrastructure development and investment
“Oh, a huge, a huge, it comes with a happy smile for people like us that are into electric mobility,” he said.
He explained that infrastructure remains the backbone of electric mobility adoption, adding that government support in the form of reduced tariffs would significantly lower entry barriers for investors and operators.
“One of the great things is we all know that infrastructure is the major factor in electric mobility if tariffs are being given to this industry, then this is a good thing for us,” he noted.
According to him, such policy signals would enable faster nationwide expansion of charging and support infrastructure while encouraging long-term investment in the sector.
Oyefodunrin said Nigeria is already witnessing early signs of adoption across fleet operations, two wheelers and three wheelers, indicating growing acceptance of electric mobility.
“You would agree with me that the Nigerian economy as of today is accepting electric mobility we are seeing them in fleet management, we are seeing them in two wheelers, we are seeing them in three wheelers,” he said.
On cost efficiency, he highlighted that electric vehicles offer significant operational savings compared to petrol-powered alternatives, estimating savings of over 45 percent.
“The cost saving alone is huge we are talking about over 45% cost saving,” he stated, adding that operators could spend far less on charging compared to daily fuel expenses.
He further noted that maintenance costs for electric vehicles are significantly lower over time, strengthening their long-term economic appeal for commercial operators.
“You would find out that within five years, you would not need to maintain anything on your electric vehicles,” he said.
Addressing affordability concerns, Oyefodunrin acknowledged the challenge of high upfront costs but said financing models and structured payment systems are helping bridge the gap for everyday users.
For SGX Mobility, he explained, solutions are designed to make electric mobility more accessible, particularly in the two and three wheeler segments.
“We have been able to bring down those initial costs and spread it within a period whereby it’s comfortable for everybody,” he said.
He also pointed to battery swapping systems as a key innovation supporting adoption, noting that users can replace batteries in under two minutes at designated stations.
On adoption rates, Oyefodunrin revealed that EV usage in the three wheeler segment has grown from 0.5 percent in 2022 to about 15 percent in 2026, describing the trend as steady but promising.
“It’s slow, but it’s taking baby steps,” he said, adding that government awareness efforts are helping to drive wider acceptance.
He concluded that electric mobility is not only reducing transport costs but also improving livelihoods, increasing income opportunities for riders and fleet operators across Nigeria.
“When you have cost saving, that means your income is increasing your take home has increased,” he said.
Oyefodunrin stressed that coordinated efforts between government, private sector players, and financial institutions will be critical to scaling Nigeria’s clean mobility transition.
Goodness Anunobi
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