With rising fuel prices and increasing global interest in sustainable energy, more Nigerians are considering electric vehicles (EVs) as an alternative to traditional petrol-powered cars. But how much does it really cost to own an electric car in Nigeria, and is it cheaper in the long run than petrol cars? This article breaks down the cost of EV ownership, charging costs, and overall savings compared to petrol cars.
Initial Purchase Cost: Electric Cars vs Petrol Cars
Electric Vehicle (EV) Prices in Nigeria
The cost of electric cars in Nigeria remains high due to import duties and the absence of local production. Here are some examples:
Whereas, you could get a regular petrol car (toyota corolla, lexus, etc) for less than the above amount. Prices ranging from 10 million and above depending on model and year of release.
Running Costs: Charging an EV vs Fueling a Petrol Car
Cost of Charging an Electric Car in Nigeria
One major advantage of EVs is lower fueling costs. The electric car charging cost in Nigeria depends on factors like:
For example:
Cost of Fueling a Petrol Car in Nigeria
With petrol prices fluctuating between ₦700 – ₦1000 per liter, let’s compare:
Clearly, charging an EV is significantly cheaper than fueling a petrol car.
Maintenance Costs: EVs vs Petrol Cars
EVs have fewer moving parts than petrol cars, meaning:
No need for oil changes, spark plugs, or timing belts
Regenerative braking reduces brake wear
Battery life is around 8-15 years
Petrol cars require regular oil changes, engine servicing, and more frequent part replacements, adding to long-term costs.
Other Costs to Consider
Charging Infrastructure
Public charging stations in Nigeria are still limited. Some EV owners install home charging units, which cost around ₦500,000 – ₦2 million.
Resale Value
Since EV adoption is still low, resale values may not be as high as petrol cars, but this could change with increased demand.
Government Incentives
Nigeria is yet to introduce strong tax incentives for EVs, unlike countries like South Africa or Kenya. If policies improve, EV costs could reduce significantly.
Conclusion: Is an Electric Car Worth It in Nigeria?
While EVs have higher upfront costs, they offer lower running and maintenance expenses, making them a cheaper long-term investment than petrol cars. If Nigeria improves EV infrastructure and incentives, electric cars could become a cost-effective and sustainable option for more drivers.
Frequently Asked Questions
How long do electric cars last?
Electric cars typically last 15-20 years with proper maintenance. The battery may need replacement after 8-15 years.
Which car is better, electric or petrol?
Electric cars are cheaper to run and maintain, while petrol cars are more widely available and refuel faster. The best choice depends on your needs and infrastructure access.
What are the disadvantages of an electric car?
High upfront cost
Limited charging stations in Nigeria
Battery replacement cost is expensive
Longer refueling time compared to petrol
Is an electric car cheaper than petrol?
Yes, EVs are cheaper to run and maintain than petrol cars, but they cost more upfront. Long-term, EVs save money on fuel and servicing.
Do electric cars last longer than petrol?
Yes, EVs generally last longer than petrol cars because they have fewer moving parts and less wear and tear.
What is the cheapest electric car?
One of the cheapest EVs available is the BYD Dolphin, priced at around ₦15 million when imported. (price is subject to change)
Which is faster, electric or petrol?
Electric cars usually accelerate faster due to instant torque, but top speeds vary by model.
Are electric cars automatic?
Yes, all electric cars are automatic since they don't have traditional gearboxes.
Which is the best electric car?
The best EV depends on budget and needs. Popular choices include the Tesla Model 3, Hyundai Kona EV, and BYD e6.
What is the downfall of electric cars?
The biggest challenges include high upfront costs, limited charging infrastructure, and battery replacement costs.
What is the best-selling electric car?
The Tesla Model 3 is the world’s best-selling electric car.
How much is a battery for an electric car?
Battery replacement can be expensive and vary by model. For example, the Tesla Electric car’s battery range from ₦5 million – ₦15 million as at the time of writing this in Nigeria.
SURE MECH
Suremech Nig. Ltd