August 15, (THEWILL) – The US Under Secretary of Commerce for International Trade, Marisa Lago, has said that the transition to Electric Vehicles (EVs) presents a tremendous opportunity to drive innovation in the automotive sector and provide good-paying jobs for Nigerians, while simultaneously addressing climate change and reducing dependence on fossil fuels.
Lago made the submission during a digital press briefing on the Global Diversity Export Initiative Trade Mission to South Africa, Ghana, and Nigeria.
Speaking at the brainstorming session for Microsoft’s Electric Vehicle Hackathon, Lago, on Tuesday, advised that, to fully realise this potential, stakeholders must identify and overcome the barriers that are standing in their way.
To achieve widespread EV adoption, the Under Secretary said supportive infrastructure and availability of charging stations are fundamental aspects of the enabling environment for an EV industry to thrive.
She, however, pointed out that companies are not likely to invest in charging infrastructure until there’s a critical mass of EV drivers.
“Equally, individuals will be reluctant to buy EVs until there is a reasonable recharging infrastructure. Second, the cost of EVs, which are still relatively high compared to conventional vehicles, remains another significant barrier. Can these costs be reduced through local manufacturing, targeted investment in R&D, or collaborations with industry leaders from around the world to achieve economies of scale?
“Third, to attract both domestic and foreign players in the sector, it will be critical to have a supportive regulatory framework of consistent policies, standards and regulations that are aligned with international best practices that encourage investment and innovation. Fourth, in addition to advancing EV technology, we must equip the workforce with the education and skills necessary to support the growth of the industry,” Lago said.
According to Lago, a skilled workforce can fill the employment opportunities generated by the growth of the sector, positioning Nigeria as a regional hub for manufacturing, maintenance and technology development.
Lago, who said she is proud to be part of the Biden-Harris Administration, which is committed to combating the climate crisis and views EVs as critical technologies to facilitate the clean energy transition, said: “I am also especially pleased to be in Lagos. While it is my second time in Nigeria, it is my first time in Lagos. As a native and resident of NYC, I am loving Lagos’ electric pace! The innovative energy in Lagos, and especially here at the Microsoft Garage, is palpable. And the results that flow from this energy won’t benefit just Nigeria, as ideas originated here inevitably grow beyond the garage’s walls and Nigeria’s borders.
“You will have an impact on the world! Your well-deserved reputations as innovators are the primary reasons that I am in Nigeria, leading a Trade Mission comprised of minority and veteran-owned businesses. These cutting-edge US companies are eager to find opportunities to expand business relationships with their Nigerian counterparts. And, with four ICT companies on this trade mission, you may well find that one of them can be a key partner to help achieve your goals,” she added
Anthony Awunor, is a business correspondent who holds a Bachelor of Arts Degree in Linguistics (UNILAG). He is also an alumnus of the Nigerian College of Aviation Technology (NCAT), Zaria Kaduna State. He lives in Lagos.
