The surge in Electric Vehicle (EV) adoption globally, reaching 7.2% market share in 2021, marks a significant shift in transportation. Nigeria introduced its first domestically manufactured EV, the Hyundai Kona, and an EV charging station in 2021, aligning with sustainability trends. However, infrastructure, cost, and regulatory hurdles hinder widespread adoption. Nigeria’s energy access gap, unreliable electricity supply, and high upfront costs pose challenges. Limited financing options and the disparity in EV costs compared to conventional vehicles impede mass adoption. Additionally, the absence of EV mass drivers and inadequate charging infrastructure deter investment. Nigeria’s reliance on crude oil revenue adds complexity as policymakers fear repercussions from the evolving EV market. Bridging infrastructure gaps and addressing economic concerns are crucial for successful EV integration in Nigeria.
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