Since the removal of petrol subsidies, the running-cost gap between EVs and petrol cars in Nigeria has widened to a point where the case is no longer close.
The five-year numbers (compact saloon class)
- Fuel / energy: petrol ₦8.4m vs EV ₦1.6m (grid) or ₦0.4m (solar)
- Scheduled servicing: petrol ₦1.9m vs EV ₦0.55m
- Insurance: broadly comparable, ₦380k–₦620k per year
- Estimated 5-year residual: petrol 38% vs EV 52% of original price
Net five-year saving for an average 15,000 km/year driver: ₦7.2m – ₦9.6m in favour of the EV, before considering resale.