18 June, 2024 Member article

Opportunities for investment in urban & rural electric mobility in Nigeria – New GET.invest Market Insights package

Electric mobility has wide-ranging environmental, social and economic benefits, enabling countries to pursue a low-emission and climate-resilient development path. In Nigeria, e-mobility is still in its early stages, but many opportunities exist for the market to grow. Scaling up the adoption of electric vehicles will require significant investment across the value chain.

To help project developers and business owners understand Nigeria’s e-mobility opportunities, GET.invest has recently launched a Market Insights package (authored by GreenMax Capital Advisors)  to leverage market research for sound investment. This free toolkit examines the key market actors, the business models being deployed, the potential market size for e-mobility, the drivers behind market growth, potential financiers, and other enablers and challenges that exist for the development of this sector in the country. In addition to a Developer Guide, two hypothetical Model Business Cases provide concrete financial analysis examples: (i) an e-mobility business that offers two-wheel electric vehicle rental and operates a network of battery swapping stations in urban areas of Nigeria, and (ii) a mini grid-powered e-mobility project deploying two-wheeled electric vehicles in a rural community in Nigeria.

The package was presented during a session dedicated to scaling up finance for e-mobility at ARE Energy Access Investment Forum in Lagos last month. This publication is part of the second series of GET.invest Market Insights, published in in 2023-2024, which covers five renewable energy market segments in four countries, namely: cooling and processing for the food industry (Uganda), small hydropower and rural development (Burundi), independent power producer projects (Mozambique), commercial and industrial solar applications (Mozambique), and electric mobility (Nigeria). All the products are accessible at www.get-invest.eu/market-insights/.

GET.invest is a European programme co-funded by the European Union, Germany, Norway, the Netherlands, Sweden, and Austria. Since 2022, GET.invest has been mandated to serve as the Team Europe One Stop Shop, the access point for information about and facilitated access to support and financing instruments for green energy in Africa.

For more information, visit the GET.invest website or contact us at info@get-invest-eu.