Lagos, Nigeria – Businessman, former senator, and Chairman of the Silverbird Group, Ben Murray-Bruce, has called on Nigeria’s indigenous automobile manufacturer, Innoson Vehicle Manufacturing (IVM), to make electric vehicle production its primary focus, arguing that the shift presents a major economic opportunity for both the company and the country.
In a public statement addressed to the Chairman of Innoson Vehicle Manufacturing, Chief Innocent Chukwuma, Murray-Bruce praised the industrialist for establishing Nigeria’s foremost indigenous automobile manufacturing company in Nnewi, Anambra State, and for successfully putting locally manufactured vehicles on Nigerian roads.
Describing Chukwuma as a longtime friend, Murray-Bruce commended his pioneering role in Nigeria’s automotive industry, noting that he personally drives an Innoson vehicle with pride. He also acknowledged the company’s early investments in electric mobility through its EX02 electric vehicle and the establishment of a new production facility in Nnewi.
However, he urged the company to move beyond treating electric vehicles as a complementary product line and instead make them the core of its future manufacturing strategy.
According to Murray-Bruce, the economics of electric vehicles strongly favour Nigeria, citing the rising cost of petrol, which he noted is above ₦1,300 per litre, compared with the country’s abundant year-round solar energy potential.
He argued that electric vehicles have fewer moving parts, making them significantly cheaper to maintain, while also helping Nigerian households reduce transportation costs and decreasing the country’s dependence on imported petroleum products, thereby conserving scarce foreign exchange.
Murray-Bruce further highlighted Nigeria’s lithium deposits, particularly in Nasarawa State, as a strategic resource that could support the development of a domestic electric vehicle ecosystem.
He also pointed to the rapid global transition towards electric mobility, noting that one out of every four new vehicles sold worldwide last year was electric, while more than half of new vehicle sales in China are now electric. He added that Ethiopia has already stopped importing new petrol-powered vehicles, underscoring the pace of the global shift.
Calling on Innoson to lead Nigeria’s transition to cleaner transportation, Murray-Bruce said the company has the potential to position the country as a competitive player in the global electric vehicle market.
He concluded by encouraging Nigerians to support locally manufactured products, using the hashtag #BuyNaijaToGrowTheNaira, as part of broader efforts to strengthen domestic industry and the national economy.
