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Nigeria’s removal of fuel subsidies in 2023 sent petrol prices soaring—and unexpectedly accelerated the country’s shift toward electric mobility. As transport costs spiked, the new economics created room for alternatives, paving the way for SAGLEV, Nigeria’s first EV-only assembly plant. Founded by US-trained physician-turned-investor Sam Faleye, the Lagos-based facility began operations in 2025 after years of preparation and now assembles electric sedans, buses, and delivery vehicles locally. With EV charging costing up to 80% less than daily petrol expenses, demand from ride-hailing drivers, fleets, and banks has surged. Despite weak grid infrastructure, private power, solar solutions, and falling EV prices are driving adoption, showing that market forces rather than mandates are driving Nigeria toward an electric transport future.
techcabal