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Wednesday, June 8, 2022
Oando, last year expanded its business portfolio in the form of a renewable energy subsidiary “Oando Clean Energy Limited (OCEL).” Less than a year in, OCEL has recorded a milestone, one that the company believes will revolutionize and set the pace for public mass transit in Nigeria with the signing of a Memorandum of Understanding (MoU) with the Lagos Metropolitan Area Transport Authority (LAMATA).
LAMATA is the Lagos State Government agency tasked with implementing, regulating, & franchising sustainable integrated public transport in the Lagos State to become a sustainable city via the rollout of electric mass transit buses, supporting charging infrastructure and service centers.
According to a statement sent to the Nigerian Exchange Limited (NGX) by Oando, the company will support the electric bus initiative with the deployment of charging infrastructure and service centers (EV Infrastructure Ecosystem) across Lagos. The MoU was signed on Monday.
Adewale Tinubu, Oando chairman, commented: “Oando Clean Energy was born out of a need to curate the best energy mix to propel Nigeria and indeed Africa, to its full potential. As a company, Oando has always championed Public-Private Partnerships as fundamental to Nigeria’s industrialization. Through the signing of this MoU, we are revolutionizing the landscape of mobility by pioneering e-mobility in Lagos.”
Frederic Oladeinde, Lagos State Commissioner for Transportation commented: “With an understanding that transportation is a key emitter of greenhouse gases in Nigeria, we developed a strategy to cut greenhouse gases by 50%. “A key component of this strategy was identifying and developing a more robust mass transit system for Lagos that would include rail and waterways amongst others. Using electricity to power mass transit is a step in the right direction, and from there we would gradually transit to private cars.”
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