Group Managing Director of Nedcomoaks Group, Dr Kennedy Okonkwo, has said that electric vehicles will cut maintenance costs by 70%.

This was disclosed during the agreement signing ceremony for 2,000 EVs by CIG Motors, Nedcomoaks Group and Fidelity Bank in Lagos.

The introduction of electric vehicle will no doubt  complement the federal government policy of moving away a little bit from the dominance of petrol and looking for other sources of power to be able to move from point A to point B.

Speaking after the official signing of the partnership with Choice International Group (CIG), owners of GAC Motors, the Group Managing Director of Nedcomoaks Group, Dr Kennedy Okonkwo, has stated that the adoption of electric vehicles will help reduce maintenance by almost 70 per cent.

According to Okonkwo: “We are developing en masse and deploying over 10,000 electric vehicle charging points across Nigeria in partnership with our reputable inverter companies who are deploying EV charging points across the country. To also make it easy, we are developing opportunities for Nigerians to join us on this journey.”

He said that many fintech companies in Lagos have vowed that no staff in their organization will come to work in a petrol-powered vehicle next year, adding that that is the future. “That is where we are going. And so for each and every organisation that keys into this vision, we say, come and work with us. Let us save our environment. Let us save our planet. But most importantly, let us reduce the burden that we have placed on our people. The cost of petroleum products is very expensive.”

Okonkwo, however, urged the federal government to support the building of electric vehicles, charging stations and the electric vehicle industry in general, as it is a great opportunity for Nigeria.

“Nigerians will be very excited with this new development because with an electric vehicle, you reduce nearly 70 percent of your maintenance cost of your vehicle. If on the average today, people spend N300,000 to N400,000 every month on fuelling of their vehicles, just imagine driving a vehicle that does not require fuel, just charge and go. I am tired of driving petrol cars. Let us save our planet. I am driving a wheelie.”

In his remarks, the Executive Director, CIG Motors, Mr. Jubril Arogundade, the company is building a vision on how to move the country forward, especially the EV industry.

“Today, Nigeria is a country that we are all looking for the new thing. We want something new to happen to us. And for a young company like CIG, after 10 years of doing business in Nigeria, we have decided to diversify our business. We have CIG Motors for 10 years, and we have promoted GAC Motors for the past 10 years. And we are now CIG Mobility from 2024 to the next future, where we are going to be partnering amazing business giants like Dr. Ned and other people in the society to be able to develop a new wave of mobility in Nigeria. Green mobility is a no-brainer. It is a national project,” he stated.

According to Arogundade, “At CIG Motor, we have positioned ourselves as the champion and the pioneer of this industry, which is the e-mobility industry in Nigeria. By launching a partnership with the Lagos State Government, 5,000 brand new electric vehicles for the Lagride have been provided.

“That’s what we’ve done this year. And that automatically will change how we move in the state, because you’ll have 5,000 cars driving on the road that are green. It means there’s zero emission from the cars, and we’ll have more green jobs that will come with it. So, this partnership with Dr. Ned is a no-brainer for the industry.”

On his own, the Executive Director, Fidelity Bank, Dr. Kenneth Opara, who expressed delight over the role played by the bank in the partnership, said: “How else can you describe that they are having this collaboration today, which is very historic? “You have an electric vehicle that is environmentally friendly. You have it in a location that is a smart city and also environmentally friendly. And that’s essentially the best way to do it. And so, for us at Fidelity, we identify with this great achievement.

“I want to say very big congratulations for what is going on here today. And for us at Fidelity, we want to say that we will support this, and that’s why we are having a high-power delegation to witness this august event and make our contribution.”