Energy company Oando has announced plans to deploy 5,000 electric buses for public transportation in Lagos State as part of its commitment to cleaner energy and a just energy transition.
Speaking in an interview with CNBC Africa at the World Economic Forum in Davos, Switzerland, Oando’s Group Chief Executive Officer, Wale Tinubu, disclosed that the initiative is in collaboration with the Lagos State Government.
“We are working on a pilot project with the Lagos State Government where we expect to see up to 5,000 electric buses deployed on our streets,” Tinubu said.
The initiative aims to reduce transportation emissions, which account for 10% of global carbon output, by transitioning Nigeria’s public transport system from diesel and petrol to electric vehicles.
“We are using gas as a transitional fuel to generate the electricity needed to power the buses. By tackling public transport emissions, we can immediately reduce carbon emissions by up to 5%,” Tinubu added.
The Oando CEO said that the company’s broader strategy is to contribute to global decarbonisation efforts, emphasising that the deployment of electric vehicles aligns with its goal of integrating cleaner energy solutions.
“For every modicum of carbon we put into the economy, we ensure to take it out by adopting carbon capture techniques and focusing on clean energy offerings, such as e-vehicles,” he said.
Tinubu also advocated for a balanced energy transition for Africa, stressing the continent’s need to use its fossil fuel resources while addressing energy poverty.
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“The arguments for decarbonisation are as important as those for a just transition. Africa has 45% of the people with no access to electricity, and we need to use our gas as part of the energy mix while working towards cleaner solutions,” he noted.
