‘Over 50% Of Nigerian Vehicles Will Be Electric In 20 Years’, Says Oando CEO Tinubu

The CEO of Oando Plc, Wale Tinubu, has projected that more than half of vehicles in Nigeria will run on electricity within the next two decades, citing the country’s abundant gas resources and the global shift toward electric mobility.

Speaking in an interview with Arise News Channel during the 2026 World Economic Forum (WEF) in Davos, Switzerland, Wale Tinubu said, “I see a big movement from combustion engines to electric vehicles over the next 20 years in Nigeria. Definitely, it’s going to happen. I think in a maximum of 20 years, over 50% of our vehicles will be electric.”

He highlighted Nigeria’s energy potential, noting, “China today, one in two cars being produced are electric. Electric cars are much cheaper to produce and we have an abundance of gas within the country, which basically means that we will eventually generate very cheap electricity.”

Tinubu also underscored the role of indigenous private capital in driving economic transformation.

“What is most profound about Nigeria is the birth and emergence of private capital, indigenous capital, with what the major companies are doing. In one generation, you’re seeing Nigerians create multinationals who are opening branches all over Africa. The hard decisions we’re taking at the advent of this administration to withdraw petroleum subsidies to float the currency and the results are already being felt,” he said.

Addressing concerns over insecurity in the country, Tinubu argued that instability affects less than 2% of Nigeria’s landmass.

He added, “I don’t think we’re unstable in large swaths of the country. We need to project Nigeria, we need to project our continent. There’s wonderful things going on that the world needs to know.”