An Approximate Evaluation and Feasibility Assessment of Electric Vehicles in Nigeria

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 focusing on opportunities within the Electric Vehicle Value Chain in Nigeria. The research aims to enhance public understanding of Nigeria's renewable energy sector by sharing preliminary findings. Currently, petroleum fulfills more than 95% of global transportation needs; however, the transition to a sustainable future necessitates energy companies to diversify their portfolios and integrate various renewable energy sources. Investor sentiment is shifting away from traditional fossil fuel industries, making the incorporation of renewable crucial. To facilitate significant progress in the renewable energy sector, the establishment of platforms supporting the growth and diversification of industry players is vital. Knowledge sharing plays a pivotal role in this process. This feasibility assessment serves as an initial reference for individuals and businesses seeking technically and economically viable opportunities within the sector.