Oando Clean Energy Limited (OECL), a subsidiary of the Nigerian oil and gas company, has received the first fleet of electric buses aimed at improving the mass transportation system in Lagos.
On Wednesday, the oil company said the initiative marks the trial stage of its sustainable transport initiative, designed to make e-mobility adoption more affordable and accessible, including charging facilities and after-sales services.
According to OECL, the buses were supplied by China’s Yutong Bus Co Limited, and they come equipped with Wi-Fi and air conditioning systems.
The Lagos Metropolitan Area Transport Authority partnered with OECL to deploy the electricity-powered buses and charging centres, as part of the state government’s broader plan to switch to renewables and cut greenhouse gas emissions by 50%.
Wale Tinubu, OECL’s CEO, said he hopes the project will inspire other states and provide a model for companies operating in the region.
“The arrival of our electric mass transit buses and development of an EV infrastructure ecosystem is a reminder that the only way to remain ahead of the curve is by being unafraid to break new ground and consistently looking for opportunities to leapfrog,” he said.
The development comes as Oando’s core shareholder, Ocean and Oil Development Partners Limited (OODP), owned by Tinubu and his deputy Omamofe Boyo, offered Oando shareholders a 58% premium above the 28 March share price to sell their stakes to the investor, which may result in OODP’s delisting from the Nigerian and Johannesburg exchanges.
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