Oando set to improve Lagos mass transit receives electric buses

The state government is situating the project within a broader plan that will buck up the switch to renewables.

Oando Clean Energy Limited (OECL), the renewable energy subsidiary of the oil and gas company, has received the first fleet of electric buses provided to improve the mass transportation system in Lagos.

The energy provider said Wednesday that the push, by extension, helps OECL set in motion the trial stage of its Sustainable Transport Initiative, tailored to build e-mobility adoption around affordability as well as the accessibility of charging facilities after-sales services.

Last June, OECL announced that it had agreed with Lagos Metropolitan Area Transport Authority to deploy electricity-powered buses, service outlets, and charging centers.

Like other cities around the world, Lagos, Africa’s most populous city, seeks to reach full decarbonization by 2050.

The state government is situating the project within a broader plan that will buck up the switch to renewables and, in turn, help cut greenhouse gas emissions by half.

Yutong Bus Co Limited, based in Zhengzhou, China, built the buses, which are equipped with Wi-Fi and air-conditioning systems.

“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,” said Wale Tinubu, Oando’s chief executive.

Mr Tinubu is optimistic the launch will throw the window open for collaboration with other states and provide a model from which companies wanting to run in space can take a cue.

Frank Lee, managing director of Yutong West Africa, said the supply is “our first delivery of electric mass transit buses in Sub-Saharan Africa and the first step in the large-scale deployment of an electric-powered public road transport system in Nigeria.”

In March, Ocean and Oil Development Partners Limited (OODP), the core shareholder of Oando, offered other shareholders of Oando’s shares listed in Lagos a 58 percent premium above the 28 March share price and those of the shares quoted in Johannesburg N7.07 on each share in cash or equivalent as an incentive for them to sell their stakes to the investor.

OODP, owned by Mr. Tinubu and his deputy Omamofe Boyo, will be delisted from the two exchanges if the deal pans out.

Source: Premium Times

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