In a bold move that could reshape Nigeria’s mobility future, SAGLEV Electromobility Limited has officially handed over an 18-passenger fully electric van, the E Star V9 EV, to Stanbic IBTC Bank, marking a defining moment for the country’s fast-emerging electric vehicle revolution.
The historic handover ceremony took place recently at the bank’s headquarters, the iconic Stanbic IBTC Towers on Walter Carrington Crescent, Victoria Island, Lagos, drawing attention to what industry watchers are already calling a watershed moment for sustainable transport in Sub-Saharan Africa.
What makes this delivery headline-grabbing is its pedigree: the E Star V9 EV, manufactured by Dongfeng Motor Corporation and locally assembled by SAGLEV Electromobility Limited in Imota, Ikorodu, is the first locally assembled 18-passenger fully electric van delivered not just in Nigeria, but across the entire Sub-Saharan African region.
For Nigeria’s automotive ecosystem, the handover, more than a vehicle delivery, underscores the country’s steady shift from EV conversation to EV implementation.
Reacting to the milestone, Dr. Gbenga Faleye, CEO of SAGLEV Electromobility Limited, described the delivery as a defining moment for Nigeria’s clean mobility journey.
“Today’s handover is more than the delivery of a vehicle,” Faleye stated. “It is proof that electric mobility is no longer a future promise in Nigeria; it is a present-day reality.”
Faleye, who commended Stanbic IBTC for its forward-looking posture, emphasized that local assembly remains central to SAGLEV’s long-term strategy.
“By assembling the E Star V9 EV here in Imota, we are deliberately building local capacity, creating skilled jobs, and accelerating Nigeria’s transition to sustainable transportation,” he noted, adding, “Stanbic IBTC continues to demonstrate real leadership. Corporate Nigeria is watching, and we believe many more organisations will follow this bold step into electric mobility.
“The zero-emission van will immediately go into service as a staff bus for Stanbic IBTC Bank, helping the financial powerhouse cut operational emissions while trimming fuel and maintenance costs.”
This latest acquisition strengthens an already growing relationship between both organisations. In 2025, Stanbic IBTC made headlines when it procured the SAGLEV Sky 01 electric vehicle, a move that signalled the bank’s serious intent toward sustainable fleet transformation.
With the addition of the E Star V9 EV, the bank is now deepening its footprint in Nigeria’s clean-transport transition.
Why This Matters Now is the fact that Electric vehicles are rapidly becoming the smart play for corporate fleets, offering Zero tailpipe emissions, dramatically lower fuel spend, reduced maintenance burden, near-silent operation and higher energy efficiency
As ESG (Environmental, Social and Governance) pressures mount across boardrooms, the business case for EV adoption in Nigeria is quickly shifting from “future consideration” to “present necessity.”
Equally significant is where the vehicle was built. The Imota assembly operation underscores Nigeria’s growing capacity for advanced automotive manufacturing, technology transfer and skilled job creation.
“For us in SAGLEV, the milestone reinforces our positioning as one of the early pioneers driving Nigeria’s electric mobility ecosystem and potentially a catalyst for broader African adoption,” Faleye added.
Both SAGLEV and Stanbic IBTC have indicated plans to deepen collaboration in pushing electric mobility into Nigeria’s corporate mainstream.
The message from this delivery is unmistakable: electric mobility in Nigeria is no longer experimental. It is here, it is working, and it is scaling.
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