Nigeria Grants Tax Breaks to Nearly 4,000 EVs in First Half of Year

According to Nigerian government data, nearly 4,000 electric vehicles (EVs) were approved for tax exemptions in the first half of 2024. Under the country’s policy, EVs are exempt from value-added tax (VAT) in 2024, and import tariffs on EVs will be reduced from 5% to zero starting in 2026. Nigeria’s Energy Transition Plan, released in 2022, aims for EVs to account for 60% of the nation’s vehicle fleet by 2050—a target far exceeding the current share of less than 1%. As of the end of 2025, the country has only about 48 public EV charging stations, primarily located in Lagos and Abuja. Nigeria’s power grid has a generation capacity of approximately 4,000 megawatts, with actual transmission capacity ranging between 3.8 and 5.3 gigawatts. Saglev, the country’s first local EV manufacturer, partners with Dongfeng Motor to assemble electric buses, SUVs, and pickup trucks in Nigeria. BYD and Geely have also entered the Nigerian market with hybrid and fully electric vehicle models.