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Elon Musk’s Tesla set to regain world biggest electric vehicle maker spot
Elon Musk’s Tesla set to regain world biggest electric vehicle maker spot
Tesla looks set to regain its title as the world’s top electric car maker as his auto company Tesla will reveal its quarterly delivery numbers on Wednesday April 03.
This is expected with China’s BYD reporting on Monday that sales plummeted more than 40 per cent for the first three months of 2024.
Analysts expect Elon Musk’s firm to reclaim the title just three months after losing the top spot to BYD, multiple reports including Yahoo Autos and Business Insider Africa show.
The Chinese company said in a Shenzhen Stock Exchange filing on Monday that it sold about 300,000 EVs in the first three months of 2024.
That is 43 per cent decline compared with the final three months of last year for BYD.
Tesla is expected to report the delivery of 458,500 vehicles in the quarter ending March 31, according to a poll of analysts by Visible Alpha.
That would represent a five per cent drop from the final quarter of 2023, but will still be enough to put the Texas-based firm clear of BYD once again.
Both companies have struggled this year amid signs that drivers are souring on electric cars and instead choosing to opt for cheaper hybrids.
Tesla’s stock price is down about 30 per cent this year in a sell-off that’s reduced its value by some $230 billion.
The slide has caused some to question whether Musk’s company deserves its spot in the “Magnificent Seven” group of mega-cap tech stocks.
BYD’s Hong Kong-listed shares have slipped six per cent in 2024, dragged down by the Warren Buffett-backed company missing its annual profit targets.
Investors are also worried that the company could eventually lose market share to rivals including Xiaomi, which just launched its first EV.
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MOMAN, ALCMAN Partner BKG to Drive Nigeria’s Shift from Auto Imports to Industrial Production
MOMAN, ALCMAN Partner BKG to Drive Nigeria’s Shift from Auto Imports to Industrial Production
In what industry stakeholders view as a decisive move toward industrial rebirth, BKG Exhibitions Limited has entered into a strategic partnership with the Motorcycle Manufacturers Association of Nigeria (MOMAN) and the Automotive Local Content Manufacturers Association of Nigeria (ALCMAN) to accelerate local automotive manufacturing and reduce the country’s heavy reliance on imports.
The alliance, formalised in Lagos, signals a coordinated private-sector effort to reposition Nigeria’s automotive ecosystem from an import-dependent market to a production-driven industrial base capable of delivering value addition, technology transfer, and large-scale employment.
For decades, Nigeria’s automotive sector has been dominated by the importation of fully built vehicles and, more recently, the assembly of semi-knocked-down (SKD) and completely knocked-down (CKD) kits.
While these models generated commercial activity, stakeholders argue they failed to build deep industrial capacity or strengthen indigenous engineering expertise.
The new partnership seeks to change that narrative by transforming trade exhibitions into structured industrial platforms that connect manufacturers with policymakers, institutional buyers, investors, and international technical partners.
A senior executive at BKG Exhibitions said the collaboration represents a deliberate shift in strategy.
“Exhibitions must go beyond passive marketplaces. They must become engines of economic transformation where Nigerian manufacturers secure contracts, attract capital, and demonstrate production competence,” he said, noting that Nigeria already possesses strong demand but lacks a coordinated ecosystem to convert that demand into domestic output.
“Nigeria remains one of Africa’s largest mobility markets, driven by rapid urbanisation, a growing youth population, and expanding last-mile logistics services.
“Motorcycles and tricycles play a critical role in urban transport, agriculture distribution, and the fast-growing delivery economy.
“However, a substantial portion of these vehicles and their components are imported, placing pressure on foreign exchange and limiting domestic industrial growth.”
MOMAN President Rev. Lambert Ekewuba emphasized that strengthening local production would go beyond import substitution.
“When we manufacture locally, we create jobs, retain capital, and build the technical foundation for advanced automotive engineering,” he said.
ALCMAN Chairman, Chief Anselm Ilekuba, stressed the importance of developing a resilient components ecosystem, describing it as the backbone of any successful automotive industry.
“No country becomes an automotive powerhouse without first nurturing strong supplier networks. Nigeria must empower small and medium-scale enterprises producing metal parts, plastics, electrical systems, and other inputs,” he said.
Under the alliance, future exhibitions will feature dedicated pavilions showcasing Nigerian-made components and vehicles, offering manufacturers direct access to government agencies, transport operators, and regional distributors.
Analysts believe such curated exposure could gradually shift procurement patterns toward locally produced alternatives.
Beyond the domestic market, the partnership aims to position Nigeria as a manufacturing hub serving West and Central Africa, leveraging opportunities under the African Continental Free Trade Area (AfCFTA).
Industry leaders say expanding export capacity will depend on strengthening standards, financing mechanisms, and technical capability.
The alliance also plans coordinated advocacy for policies that support localisation, including improved access to financing, reduced duties on industrial machinery, technical training aligned with modern production systems, and procurement frameworks favouring locally manufactured goods.
Economists argue that a revitalised automotive manufacturing base could stimulate growth across steel, petrochemicals, logistics, warehousing, and tooling industries, reinforcing the sector’s role as a catalyst for broader industrialisation.
Coming at a time when Nigeria is intensifying efforts to diversify its economy away from oil dependence, stakeholders say the success of this alliance could mark a turning point — shifting the country from being one of Africa’s largest automotive consumption markets to an emerging centre of production, innovation, and regional trade.
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Appeal Court Ruling on VIO Limited to Abuja, Not Lagos — LASG
Appeal Court Ruling on VIO Limited to Abuja, Not Lagos — LASG
The Lagos State Government has dismissed widespread claims that a recent Court of Appeal judgment has stripped Vehicle Inspection Officers (VIOs) of their powers across Nigeria, insisting that the ruling applies strictly to the Federal Capital Territory (FCT).
The clarification follows public reactions to a decision of the Court of Appeal, Abuja Division, which upheld an earlier ruling of the Federal High Court restraining Vehicle Inspection Officers and the Directorate of Road Traffic Services in the FCT from stopping motorists, impounding vehicles, or imposing fines.
The judgment triggered viral interpretations suggesting that VIO operations had been outlawed nationwide.
However, Lagos State Attorney-General and Commissioner for Justice, Lawal Pedro, SAN, described such interpretations as legally inaccurate and misleading.
Basis of the Court Decision
According to Pedro, both the Federal High Court and the Court of Appeal premised their decisions on the absence of statutory authority empowering VIO officials in the FCT to stop, impound, confiscate vehicles, or impose fines on motorists.
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“It is important to understand that the Honourable Judge of the Federal High Court and Justices of the Court of Appeal premised their decision on absence of statutory power conferred on the Respondents to stop, impound or confiscate vehicles and/or impose fines on motorists on roads in FCT Abuja,” he stated.
He noted that the courts did not declare vehicle inspection enforcement unconstitutional in Nigeria, but rather ruled specifically on the legal framework governing the FCT authorities involved in the suit.
Why Lagos Is Different
The Lagos government stressed that Nigeria’s federal structure allows states to legislate on residual matters such as road traffic management and vehicle inspection.
Pedro explained that Lagos operates under the Lagos State Transport Sector Reform Law, which expressly establishes and empowers the Vehicle Inspection Service (VIS).
Section 12(1) of the law authorises the VIS to:
Inspect and regulate the roadworthiness of vehicles
Conduct pre-registration inspections
Issue Road Worthiness Certificates
Collaborate with other relevant agencies to enforce traffic laws
In addition, Section 23(1) provides for penalties against offenders, subject to adjudication before mobile or magistrate courts, ensuring judicial oversight.
Not of Nationwide Effect
While acknowledging that the appellate decision is binding within the FCT, the Lagos government emphasised that it does not have automatic nationwide application.
“The judgment, though binding, is not of general application or of nationwide effect in Nigeria,” the ministry stated.
The state government stressed that VIS officers in Lagos remain legally empowered to carry out enforcement duties under extant state laws.
Wider Implications
The controversy underscores ongoing debates over traffic enforcement powers in Nigeria, particularly the constitutional boundaries between federal and state authorities.
Legal analysts note that unless the Supreme Court delivers a broader pronouncement on the issue, enforcement powers will continue to depend largely on the specific statutory framework establishing such agencies in each jurisdiction.
For now, Lagos authorities insist that vehicle inspection and traffic enforcement operations in the state remain valid and legally grounded.

Appeal Court Ruling on VIO Limited to Abuja, Not Lagos — LASG
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Chanrai Storms Nigeria’s Gas Market, Unveils High-Capacity CNG, LNG Solutions to Power Energy Shift
Chanrai Storms Nigeria’s Gas Market, Unveils High-Capacity CNG, LNG Solutions to Power Energy Shift
By Rasheed Bisiriyu
Nigeria’s drive towards cleaner and more affordable transport fuel gathered fresh momentum on Friday as Chanrai Nigeria Limited formally entered the country’s gas distribution space, unveiling high-capacity CNG and LNG compression technologies in Lagos.
The company, a member of the globally diversified Kewalram Chanrai Group, announced a strategic partnership with India’s Tulip Compression to roll out advanced compressor packages and integrated “single window” CNG solutions aimed at accelerating the Federal Government’s Presidential CNG Initiative.
Chief Operating Officer of Chanrai Nigeria Limited, Anil Sahgal, described the Tulip CNG Compressor Packages as a “game-changer” for Nigeria’s evolving energy landscape.
“With our commitment to safety, efficiency and OEM-grade partnership, we’re empowering the nation to achieve its CNG ambitions while driving economic growth and environmental sustainability,” Sahgal said.
The move marks Chanrai’s expansion beyond its traditional business interests — which span automobiles, agro-products, healthcare and fast-moving consumer goods — into the fast-growing gas infrastructure segment, as fleet operators and industrial users increasingly seek alternatives to petrol and diesel.
Under the partnership, Chanrai Nigeria and Tulip Compression will deliver Compression Station on Single Window (CssW) solutions — integrating compressors, dispensers, storage and stainless-steel tubing under one brand — to simplify deployment and reduce installation timelines.
The compressor packages come in a wide capacity range, from 250 to 4,500 standard cubic metres per hour, making them suitable for small refuelling stations as well as large gas hubs.
A 1,400 SCMH gas engine-driven booster compressor is designed to refuel heavy-duty CNG trucks in about 20 minutes by drawing gas from tube trailers.
The systems are available in both electric motor-driven and gas engine-driven configurations, eliminating the need for large gas generators while ensuring energy efficiency and lower life-cycle costs.
According to the company, the equipment features dual-chamber leak-proof safety systems, advanced sealing technology to eliminate gas loss and global certifications including ATEX, CE, BIS and SGS standards.
The unveiling underscores the growing private sector response to government reforms encouraging gas adoption as a cost-effective and environmentally friendly alternative fuel.
With the compressor packages now available for immediate orders, Chanrai Nigeria said it would provide 24/7 after-sales support, operations and maintenance services, as well as remote asset monitoring solutions.
The development signals intensifying investment in CNG infrastructure as Nigeria seeks to deepen local gas utilisation, reduce fuel import dependence and cushion consumers from volatile petrol prices.
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