FG, Stakeholders Seek Solutions To Nigeria’s EV Financing, Policy Gaps

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The Federal Government has urged stakeholders in the electric vehicle (EV) sector to provide timely data to support policies and regulations aimed at protecting local businesses and promoting production.

Dr Ibiom Ogwejofa, National Coordinator, Strategy Implementation Task Office for Presidential Executive Order 5, Federal Ministry of Innovation, Science and Technology, made the call at a round table organised by Leke services at Abuja.

Ogwejofa said the office is coordinating with Ministries, Departments and Agencies (MDAs), as well as the private sector to promote Nigerian content in the non-oil and gas sector.

He said that Nigeria needed to move beyond consumption and production to creating wealth through local innovation and enterprise.

“We often say that we want to move Nigeria from consumption to production.

“As fine as it is, we also see that we have to go beyond that. We have to move Nigeria from idea to production and to wealth, because when you stop at production, you haven’t completed the cycle. We want to move Nigeria from idea to wealth, beyond production.

”To do this, we have to work with everybody and then liaise with the government to be able to give the right prescription that will make sure that our private sector and the country as a whole is secured,” he said.

The national coordinator said government would not wait until the EV transition become too advanced before addressing challenges confronting the sector.

“I have listened to some of the observations here with respect to how the electric motor business is transitioning in Nigeria.

“We don’t have to wait until it is too late, that is why I’m here, because I want to listen to all these things and begin to translate them into policies and regulations that can protect our people.”

He urged key players in the…