Dr. Ned Okonkwo, Group Managing Director of Nedcomoaks Group, has revealed that the adoption of electric vehicles (EVs) could reduce maintenance costs by up to 70%. Speaking at the agreement signing ceremony for 2,000 EVs between CIG Motors, Nedcomoaks, and Fidelity Bank in Lagos on Tuesday, Okonkwo emphasized that the move to EVs aligns with efforts to reduce Nigeria’s carbon footprint and promote cleaner energy.
Okonkwo pointed out that with the government’s support for EV charging stations and the electric vehicle industry, Nigeria could significantly benefit from the shift to EVs. He highlighted the potential for substantial cost savings in vehicle maintenance and energy consumption.
Additionally, Okonkwo shared his vision of transforming Nigeria’s energy sector by tapping into solar power, with a focus on reducing environmental pollution and promoting green energy solutions. As part of his firm’s commitment, all their estates will be equipped with EV charging points, and over 10,000 charging points are being deployed across the country in partnership with an inverter company.
CIG Motors’ Chairman, Chief Diana Chen, echoed Okonkwo’s sentiments, stressing that EVs are more than just vehicles; they are energy storage devices, much like smartphones. She also discussed their partnership with the Lagos State Government and their ongoing efforts to increase EV charging infrastructure and train Nigerian technicians in EV maintenance.
The initiative is backed by Fidelity Bank, whose Executive Director, Mr. Kennedy Opara, expressed strong support, highlighting the bank’s commitment to sustainable innovation. The shift towards green mobility was hailed as a crucial national project that promises to reduce pollution while fostering innovation in Nigeria’s transportation sector.
