A ₦500 million fine and a bold vision: Inside Nigeria’s electric vehicle bill

A ₦500 million fine and a bold vision: Inside Nigeria’s electric vehicle bill

On November 5, 2025, the Nigerian Senate advanced the Electric Vehicle Transition and Green Mobility Bill to its second reading, a major step toward regulating and accelerating the country’s shift to electric vehicles. The proposed legislation, sponsored by Senator Orji Uzor Kalu (Abia North), introduces wide-ranging incentives and mandates—alongside steep penalties—that could redefine how vehicles are manufactured, imported, and distributed in Africa’s largest economy. If passed, Nigeri...
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Spiro secures $50m debt funding from Afreximbank to expand electric vehicles in Africa

Spiro secures $50m debt funding from Afreximbank to expand electric vehicles in Africa

Spiro, an India-based electric vehicle company, has signed a $50 million debt financing deal with Afreximbank to expand its offering in its existing markets. The company operates in six countries: Benin, Togo, Kenya, Nigeria, Uganda, and Ghana, and plans to expand to Cameroon, and Morocco this year.  The company has spent the past two years mapping African cities and identifying potential markets. It claims to be the largest operator of electric motorbikes in Africa and has mostly focused on tw...
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