GOVT APPROVES TAX WAIVERS FOR 4,000 ELECTRIC VEHICLES

The Federal Government has approved tax waivers for about 4,000 electric vehicles as part of efforts to encourage the adoption of cleaner transportation and reduce emissions in Nigeria.

The policy is expected to lower the cost of importing electric vehicles and make them more accessible to individuals, businesses, and transport operators.

Government officials said the initiative forms part of broader efforts to promote the transition towards cleaner energy and reduce Nigeria’s dependence on petrol and diesel-powered vehicles.

The move is also expected to support investment in Nigeria’s emerging electric vehicle ecosystem, including charging infrastructure, vehicle assembly, maintenance, and related services.

Industry stakeholders said reducing taxes and import-related costs could encourage more consumers and businesses to consider electric vehicles.

They noted, however, that wider adoption would depend on other factors, including the availability of reliable charging stations, electricity supply, financing options, spare parts, and technical expertise.

Experts said the development could also create opportunities for local manufacturers and technology companies to participate in the growing electric mobility market.

Environmental stakeholders welcomed the policy, saying increased adoption of electric vehicles could help reduce air pollution and carbon emissions, particularly in major urban centres.

They urged the government to complement the tax incentives with long-term policies that support local production and the development of charging infrastructure.

The Federal Government said it would continue to introduce measures aimed at supporting cleaner transportation and building a more sustainable mobility system in Nigeria.