Subsidy Removal: Schneider Seeks Adoption of Electric Vehicles In Nigeria

As the demand for sustainable transportation solutions rises, Schneider Electric has emphasised the need for adoption of electric vehicles (EV) solutions to alleviate future fuel challenges.

This is as the Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that the price of Premium Motor Spirit (PMS) also known as petrol will drop as private investors make their way into the industry,  as well as the use of Compressed Natural Gas (CNG) as an alternative energy source will cushion the effect of subsidy removal.

Speaking to journalists in Abuja, Chinedu Okoronkwo, National President IPMAN said the removal of subsidy by President Bola Tinubu, will unbundle the downstream sector as it gives way for more private investors to come in.

“Our association has the numerical strength to force down the price of fuel once they start independent importation of the product,” he said.

The IPMAN president said that using Compressed Natural Gas as an alternative energy source will cushion the effect of subsidy removal, adding that its adoption will provide a better and long-lasting solution to the constant fluctuation in the price of petrol in the global market.

IPMAN also agreed to revive the CNG conversion programme earlier agreed upon with Labour centres in 2021 and work out detailed implementation and timing.

CNG, which is a gas mainly composed of methane and produces less emission, is the cleanest burning fuel operating today with less vehicle maintenance and longer engine life.

He said CNG as a cheaper alternative energy source would provide relief for the government and its citizens, adding that it is abundantly available in Nigeria.

Okoronkwo, who had supported the removal of subsidy said the removal was necessary because of the preferential for dollar which was so hard, adding that there was no crude refining in Nigeria, rather we produced.

“In Niger-Delta region you see billions of tonnes of gas flare being wasted daily, these are huge amounts that should be accruing to our GDP but we are wasting it because there is no market for it, So we are asking the government to create the market,” he said.

Meanwhile, the country president, Schneider Electric, Ajibola Akindele disclosed this while showcasing the global energy management and automation giant’s cutting-edge range of Electrical Vehicle (EV) chargers at the West African Automotive Show, Landmark, Lagos, Nigeria.

Stating that there is growing interest for electric vehicles, Akindele, highlighted Schneider Electric’s commitment towards providing a reliable and sustainable solution for Nigeria’s transportation sector, “Fuel scarcity remains a significant concern in Nigeria and the cost is now an added challenge.

“Schneider Electric recognizes electric vehicles as a sustainable and efficient solution to address these issues, now and in the future. By shifting towards electric vehicles, Nigeria can reduce its dependency on fossil fuels and decrease carbon emissions. Schneider Electric is committed to supporting this transition by providing reliable and scalable EV charging solutions.”

Speaking on the exhibition success and visitor’s reactions, marketing communications manager, Omobolanle Omotayo, said “The exhibition witnessed enlightening engagements with electric vehicle enthusiasts and industry professionals, which provided valuable insights on the growing EV market in West Africa and the need for a robust charging infrastructure to support the transition to electric vehicles effectively.”

Schneider Electric commended the efforts of the Lagos State Government in promoting the importation of automotive electrical vehicles(buses) into Nigeria. This forward-thinking initiative demonstrates the government’s commitment to cleaner mobility and paves the way for a greener transportation ecosystem.

The EV charger product manager, Grace Olorunsola highlighted Schneider Electric’s diverse portfolio of EV charging solutions, “EV Charging solutions caters to the needs of both residential (EVlink Home) and commercial requirements (EVlink Pro AC). The charging solutions offer convenience and flexibility of use, ensuring electric vehicle owners can charge their vehicles efficiently without hassle.

“By implementing Schneider Electric’s EV charging solutions, Nigeria can seamlessly transition to electric vehicles and provide a sustainable and reliable transportation system for its citizens,” she added.  

Schneider Electric drives digital transformation by integrating world-leading process and energy technologies, endpoint to cloud connecting products, controls, software, and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centres, infrastructure, and industries.