How rising fuel costs launched Nigeria’s first EV-only assembly plant
TechCabal | 19.12.2025 19:32
When President Bola Tinubu announced the removal of Nigeria’s decades-old fuel subsidy in May 2023, the shockwaves were immediate and severe. Overnight, petrol prices surged from ₦185 ($0.36) to above ₦500 ($0.96) per litre, later climbing past ₦600 ($1.15). As households and businesses struggled with the inflationary fallout, the policy shift also reshaped the economics of transportation, creating an unexpected opening for alternatives to petrol-powered vehicles.
