Rising petrol prices are pushing more Nigerians to consider electric vehicles (EVs) as a practical and cost-saving alternative.
Industry experts say the growing financial pressure on households and businesses is making EVs less of a luxury and more of a necessity.
At the Abuja Compact on Electric Mobility Roundtable, stakeholders noted that increasing transport costs are changing how people move.
What was once seen as a future technology is now becoming a realistic option for daily commuting and business operations.
Chairman of the Presidential Initiative on Compressed Natural Gas and Electric Vehicles, Ismaeel Ahmed, said the removal of fuel subsidy has widened the cost gap between petrol vehicles and EVs.
He explained that charging an EV for a 200-kilometre trip costs about N4,500, compared to roughly N22,500 for petrol, making electric mobility far more affordable.
Experts also highlighted new financing models helping more Nigerians access EVs.
Mohammed Abdul of Alternative Bank said options like lease-to-own, partnerships, and pay-as-you-go systems are reducing the burden of upfront costs, especially for drivers in the informal transport sector.
Beyond transport, stakeholders said EV adoption could boost economic growth, cut reliance on imported fuel, and improve energy access.
They added that solar-powered charging stations could serve both vehicles and nearby communities, expanding electricity access while supporting cleaner mobility.