The Major Energy Marketers Association of Nigeria (MEMAN) and industry leaders have stressed the need for the adoption of electric vehicles (EVs) for economic growth.
The association during its quarterly press webinar and engagement, tagged: ‘Introduction to Electric Vehicles’, emphasised the importance of EVs, refining capacity and energy diversity in shaping the country’s economic growth and energy landscape.
The stakeholders emphasised that EVs are critical to addressing climate change, reducing emissions, and enhancing energy security. Chairman of MEMAN, Huub Stokman, mentioned that EVs are critical to addressing climate change, reducing emissions and enhancing energy security.
He stressed that while challenges like high initial costs and limited charging infrastructure persist, ongoing technological innovations in the EV space including solid-state batteries, wireless charging, and vehicle-to-grid (V2G) technology, are expected to ease adoption.
MEMAN reiterated its commitment to promoting the transformation alongside traditional energy sources, noting that the transition to EVs is essential for sustainability.
“In addition to EVs, MEMAN continues to advocate for a diverse energy mix that includes traditional fuels, renewables, and innovative technologies. We are calling for the formation of Petroleum Industry Consultative Committees to guide the industry, resolve potential conflicts, and enhance collaboration, promote private sector participation to drive innovation and efficiency, and invest in infrastructure to support energy expansion and sustainability,” he said.
The association called on the government to grow local refining to reduce Nigeria’s reliance on imports and enhance energy security, enhance human capital through education and skill development to meet the needs of an evolving energy sector and facilitate open access procedures to encourage inclusivity and fair competition in the energy market.
“In today’s challenging environment, we must always prepare for multiple scenarios to cope with the many uncertainties that can arise. It is through this proactive approach that we can anticipate and navigate risks to ensure the stability and growth of Nigeria’s energy sector.
“MEMAN remains steadfast in its commitment to ensuring the delivery of affordable, high-quality energy products in a safe, sustainable, and competitive environment. The complex nature of the energy supply chain, especially during this period of energy transition, requires all stakeholders both public and private to work together to drive progress. By fostering cooperation, the industry can address challenges more effectively and deliver the best possible outcomes for consumers and the nation,” said MEMAN
Chairman and Chief Executive Officer (CEO) of SAGLEV Incorporation, Dr Sam Faleye emphasised the development of widespread charging stations, home charging, fast-charging networks and EV adoption in Africa. He stressed that the adoption of EVs offers a cost advantage through reduced maintenance expenses and lower energy costs, noting that the advancements in battery technology like Lithium Iron Phosphate (LFP) offer improved storage capacity.
Faleye emphasised that EVs are important to address climate change, reduce emissions, for the global shift towards electric mobility and support energy security and sustainability.
“The economic benefits of EV adoption include lowering operating costs, reduced fuel expenses, and potential incentives for EV owners while the environmental benefits are reduced greenhouse gas emissions, lower air pollution and noise reduction,” he said.
He urged the Nigerian government to implement robust policies to support the adoption of EVs and huge investments in EV charging infrastructure with the development of widespread charging stations.
Head of Project e-Mobility and Renewable Energy at Sterling Bank, Engr. Akinkunmi Akingbogun emphasised that for EVs to thrive in Nigeria, there must be a convergence of the automobile industry, energy systems, and urban transport infrastructure.
