Recent survey data shows that Nigeria accounts for over 75% of the registered vehicles in West Africa, with an ever-increasing number of vehicles plying the roads. The overwhelming majority of these vehicles have internal combustion engines which require astounding amounts of Premium Motor Spirits (‘PMS’) and diesel to run on a daily basis.
The demand consumption figure for PMS and diesel as fuel for vehicular transportation has risen to over 66.9 million litres in recent years with no signs of abating. This trajectory comes at a cost – an escalating environmental toll and growing dependency on fossil fuels which are diametrically opposite to our ambition to meet carbon reduction targets and usher in a new era of clean energy. To realistically achieve the targets expressed in the 2021 Updated NDC (‘Nationally Determined Contributions’) it is imperative to construct sustainable electric vehicle (EV) infrastructure under a robust legal and regulatory framework.
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