Focusing on Nigeria’s energy transition ambitions, The Energy Transition Office (ETO) took a significant step forward by organizing an E-Mobility Stakeholder Session in Lagos on Thursday, June 15th, 2023. The session primarily focused on the transportation sector’s transition to more sustainable energy sources.
Participants engaged in dialogues to identify existing E-Mobility projects, discuss decarbonization strategies, address policy constraints, and explore financing options for current and future initiatives.
The transportation sector currently accounts for over 50% of global liquid fuel consumption, contributing to escalating emissions and environmental concerns.
Recognizing the urgent need for low-carbon development, the Energy Transition Plan (ETP), launched by the Federal Government in 2022, aims to achieve net-zero emissions by 2060. The ETP focuses on five key sectors, including Power, Cooking, Transport, Industry, and Oil & Gas.
During the session, private industry players, regulatory and policy bodies, and other stakeholders participated in dialogues to identify existing E-Mobility projects, discuss decarbonization strategies, address policy constraints, and explore available financing options. The aim was to unlock opportunities for private sector engagement and secure funding from local and international partners to support E-Mobility projects aligned with the ETP.
Alfred Okoh, Budget and Multilateral Finance Specialist in the Energy Transition Office, emphasized on the importance of collaboration with industry practitioners and development partners in achieving ETP’s overarching goals. He highlighted the need to address constraints and secure funding for pipeline projects that align with Nigeria’s energy transition objectives.
Ademola Ogunbanjo, Executive Vice President of Oando Clean Energy, emphasized the global shift towards renewable energy and the diminishing role of fossil fuels. He acknowledged the impact of climate change in Africa and advocated for the continent to embrace renewable energy sources, particularly in critical sectors like transportation.
Ogunbanjo highlighted Oando’s sustainable transport project in partnership with the Lagos State Government, involving the introduction of electric mass transit buses to Lagos.
Byencit Duncan, Lead E-Mobility Portfolio at CleanTech Hub, provided valuable insights into the E-Mobility market structure in Nigeria and emphasized the importance of developing the sector while leveraging available raw materials. She also highlighted the need for increased awareness campaigns to promote E-Mobility adoption in Nigeria.
Distinguished speakers from the power, energy, and transportation sectors, including:
Olajide Kumapayi (Chief Technical Officer, Ikeja Electric),
Olumide Fatoki (Head of Sustainable Energy Access – NESP, GIZ),
Olabanjo Alimi (Group Head, Renewable Energy & Mobility – Sterling Bank),
Adetayo Bamiduro (CEO Max NG), and
Wola Joseph (Chief Legal Adviser and Company Secretary, Eko Electricity Distribution), shared their insights and experiences on the challenges and opportunities in the E-Mobility sector.
Their expertise and collaborative efforts fostered fruitful exchanges of ideas and practical solutions.
The session concluded with a productive Q&A segment where participants raised pertinent questions, leading to insightful discussions and practical solutions.
As Nigeria embarks on the decarbonization journey within the transport sector, the development of E-Mobility presents a significant opportunity for sustainable transportation, increased energy efficiency, and economic growth. The Energy Transition Office commits to taking actionable next steps based on the ideas and suggestions shared during the session.
In closing, Alfred Okoh of the Energy Transition Office expressed sincere appreciation to all the participants for their invaluable contributions. He emphasized that the ideas, suggestions, and deliberations generated during the session would serve as the foundation for actionable next steps by the Energy Transition Office.
The valuable insights shared by the participants will be instrumental in driving the successful implementation of sustainable E-Mobility projects in Nigeria’s ongoing energy transition journey.
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