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Agreement Signed for Deployment of Electric Motorbikes in Lagos

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Agreement Signed for Deployment of Electric Motorbikes in Lagos

By: Michael Mike

Swap Station Mobility Limited has signed partnership agreement with Glovo and Siltech World to deploy electric motorbikes, smart swappable batteries, and a network of quick interchange stations across Lagos State.

The Partnership will provide Glovo couriers with 2-wheel electric motorbikes that offer lower cost, clean mobility alternative to the internal combustion engine (ICE).

The Electric Vehicles (EVs) are provided on a lease-to-own model whilst also offering riders a unique “pay as you ride” or “weekly subscription” to access SSM’s battery swap and charging facilities, technical support and cover for insurance, licensing, and routine maintenance services. In order to increase adoption, Swap Station intends to build out a network of solar powered automated quick interchange battery stations along major demand routes and logistics bases starting in Lagos and surrounding states over the next twenty-four months.

Blackaion Capital and FundCo Capital Managers who are the co-sponsors of Swap Station Mobility, believe the operational cost of battery swapping per kilometre (km) will remain substantially lower than the fuel cost per km for the ICE counterpart. “This is the main value driver which has been catalysed by the Federal Government’s near elimination of fuel subsidies.

The products developed or distributed by Swap Station are designed to exceed the performance of petrol alternatives whilst significantly improving CO2 emissions, local air quality, and cost efficiency for users over the life of the asset,” said the Director at Swap Station and Partner at Blackaion Capital, Obiora Okoye,

Okwu Njoku who sits on the Board went on to say, “We are very excited about signing with Glovo who operate one of the most prolific food delivery platforms in Nigeria. Our EVs and swappable batteries are in-country, and Siltech World, one of our key technology and technical partners, supported us with the procurement, testing, and certification of the EVs, and so, we are now ready to start operations. We plan to spend the next few months securing additional swap locations, building our technology platform, and expanding our team.”

Abiodun Oni, Chief Executive Officer (CEO) of FundCo Capital Managers, and former Regional Sales Director, Energy, for Tesla, stated, “e-mobility is critical to our sustainable infrastructure investment strategy, and this agreement with our partners enables us to kick start that process”.

On his part, Head of Operations at Glovo, Ify Adah stated, “ By 2030, our goal is to have about half of our orders delivered by non-combustion vehicles. So, we are very excited and look forward to working with Swap Station, and supporting our couriers with cleaner and more cost-effective transport solutions.”

Swap Station is an integrated EV financing and battery charging infrastructure development company that has built a business-to-business-to-consumer (B2B2C) platform that provides access to electric 2-wheel and 3-wheel vehicles, swap station infrastructure, swappable batteries, and a hub for repairs and maintenance services to fleet owners, businesses, and users operating in the logistics and last mile connectivity in Nigeria.

Blackaion Capital is a West Africa focused infrastructure advisor, developer, and asset manager with offices in Lagos, Abuja, and Mauritius. Blackaion’s mission is to create exceptional long-term value for all stakeholders by developing and capitalising tech-enabled and climate-friendly infrastructure projects and companies.

FundCo is a specialised Alternative Asset Manager for sustainable infrastructure-related funds across critical economic sectors. These are selected industries providing essential services to the society, with domestic geographic diversity, have secure cash flows, are recession resilient, and ideally, offer some inflation protection. FundCo is duly registered with and licensed by Nigeria’s Securities and Exchange Commission (SEC) as a portfolio/fund manager in line with the SEC rules.

Agreement Signed for Deployment of Electric Motorbikes in Lagos

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Nigeria, Benin Share Common Destiny, Deepen Strategic Partnership – Shettima

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Nigeria, Benin Share Common Destiny, Deepen Strategic Partnership – Shettima

By: Zagazola Makama

Vice-President Kashim Shettima has reaffirmed Nigeria’s commitment to strengthening bilateral relations with the Republic of Benin, describing both countries as partners bound by a “common destiny” rooted in history, trade and regional security.

Shettima stated this on Sunday in Cotonou during the inauguration of Benin’s President Romuald Wadagni, where he represented President Bola Ahmed Tinubu.

The Vice-President said the Tinubu administration views the Nigeria–Benin relationship as strategic to regional integration and democratic stability in West Africa.

“Our presence here in Cotonou underlines President Tinubu’s unwavering, deep-seated commitment to strengthening ties with our neighbours,” he said.

Shettima noted that both countries share deep cultural, historical and economic ties that predate modern political boundaries, stressing that communities on both sides of the border remain closely connected.

“Our border with the Benin Republic stretches across nearly 600 kilometres, spanning six Nigerian states… We are essentially one people tied to a common destiny,” he added.

He said Nigeria and Benin must continue to work together to promote democratic governance, peace and economic prosperity within the ECOWAS sub-region.

“Because of this, we must show solidarity, empathy and active support toward strengthening democracy in West Africa,” he said.

The Vice-President disclosed that bilateral trade between both countries stands at about $2 billion annually, while an estimated five million Nigerians reside in Benin Republic.

He said both countries had strengthened cooperation in border security, trade facilitation, grassroots governance and ae development under regional integration frameworks.

Shettima recalled that Nigeria and Benin formalised a Memorandum of Understanding in August last year to enhance collaboration among border communities, local governments and traditional institutions in tackling cross-border crimes and boosting socio-economic development.

He said the arrangement had improved security coordination and commercial activities in border towns such as Seme, Igbokofi and Ilara, while enhancing opportunities for residents engaged in cross-border trade.

The Vice-President also referenced ongoing regional economic frameworks under the ECOWAS Trade Liberalisation Scheme and the Common External Tariff system, aimed at improving the business environment across member states.

He added that both countries continue to implement the ECOWAS protocol on free movement of persons, which allows citizens to stay within member states for up to 90 days without visa requirements.

According to him, these initiatives remain critical to strengthening regional integration and sustaining peace and prosperity in West Africa.

Nigeria, Benin Share Common Destiny, Deepen Strategic Partnership – Shettima

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Troops Rescue INEC Official, Arrest Suspects After Election-Related Kidnapping Attempt in Cross River

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Troops Rescue INEC Official, Arrest Suspects After Election-Related Kidnapping Attempt in Cross River

By: Zagazola Makama

Troops have rescued an official of the Independent National Electoral Commission (INEC) and arrested three suspects following a reported kidnapping and disruption of election-related activities in Yakurr Local Government Area of Cross River State.

Security sources disclosed that the incident occurred at about 11:15 p.m. on May 22 when two groups of suspected kidnappers stormed the venue of ADC primary elections at Wummy Hotel, Ekori community.

According to the sources, one of the groups abducted the INEC returning officer, forced him into a vehicle, and compelled him to transfer ₦70,000 before fleeing the scene.

The second group, operating on a motorcycle, reportedly carted away ballot boxes from the venue.

Following intelligence on the incident, troops in Yakurr Local Government Area laid an ambush on the fleeing suspects, successfully intercepting the vehicle and rescuing the kidnapped INEC official.

Three suspects were arrested during the operation, while one armed suspect reportedly escaped into nearby bush with a pistol, a mobile phone, ATM card, travelling bag and other election materials.

The rescued official, arrested suspects and recovered vehicle are currently in military custody for further investigation and action.

Security forces have intensified efforts to track down the fleeing suspects and recover the stolen electoral materials.

Troops Rescue INEC Official, Arrest Suspects After Election-Related Kidnapping Attempt in Cross River

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Troops Raid Suspected Cultists’ Hideout, Arrest Three in Enugu State

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Troops Raid Suspected Cultists’ Hideout, Arrest Three in Enugu State

By: Zagazola Makama

Troops of 103 Battalion, in collaboration with the Nigeria Police Force, have raided a suspected cultists’ hideout in Achi town, Oji River Local Government Area of Enugu State, arresting three suspects and recovering items believed to be linked to criminal activities.

Security sources disclosed that the operation was carried out at about 4:30 a.m. on May 23 following credible intelligence on the activities of suspected cultists and other criminal elements operating in the area.

According to the sources, the troops stormed a residential building suspected to be used as a hideout by the criminal group.

During the raid, three suspects were apprehended, while items recovered include eight motorcycles and two buckets of locally made gunpowder.

The suspects and recovered items were subsequently handed over to the Nigeria Police Force for further investigation and necessary action.

Security authorities have continued to intensify joint operations in Enugu State and surrounding areas to curb cult-related activities and other forms of violent crime.

Troops Raid Suspected Cultists’ Hideout, Arrest Three in Enugu State

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