An Approximate Feasibility Assessment of Electric Vehicles Adoption in Nigeria: Forecast 2030

Qasim Ajao and Lanre Sadeeq

Papers from arXiv.org

Abstract: Efforts toward building a sustainable future have underscored the importance of collective responsibility among state and non-state actors, corporations, and individuals to achieve climate goals. International initiatives, including the Sustainable Development Goals and the Paris Agreement, emphasize the need for immediate action from all stakeholders. This paper presents a feasibility assessment focused on the opportunities within Nigeria's Electric Vehicle Value Chain, aiming to enhance public understanding of the country's renewable energy sector. As petroleum currently fulfills over 95% of global transportation needs, energy companies must diversify their portfolios and integrate various renewable energy sources to transition toward a sustainable future. The shifting investor sentiment away from traditional fossil fuel industries further highlights the imperative of incorporating renewables. To facilitate significant progress in the renewable energy sector, it is vital to establish platforms that support the growth and diversification of industry players, with knowledge sharing playing a pivotal role. This feasibility assessment serves as an initial reference for individuals and businesses seeking technically and economically viable opportunities within the sector.

Date: 2023-05, Revised 2023-06
New Economics Papers: this item is included in nep-ene, nep-env, nep-mfd and nep-tre
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