Sterling Bank’s Qore revolutionizes electric vehicle charging in Nigeria, charges N150 per Kilowatt/hr 

This was confirmed in a statement obtained by EnergyDay on Monday.

The bank however did not provide further details on the new products despite attempts by our correspondent to obtain them. Calls and messages made to the Corporate Affairs Department of the commercial bank were not honoured as at the time of filing this report.

According to the statement, the commercial EV charging station in Nigeria, which was launched last month by Sterling Bank, is a revolutionary product line that aims to drive the adoption of electric vehicles (EVs) in Nigeria.

Idris Rufai, founder Hamster Energy, in a statement shared via is LinkIn, said his company partnered with Qore by Sterling Bank to install Nigeria’s first commercial EV charging station.

According to him, the facility is a hybrid charging station equipped with 3 AC chargers with different power ranging from 7kW to 22kW.

Rufai said, “The chargers have the type 1 and type 2 connectors and adapters for the North America Charging Standard (NACS) which means it can also charge a Tesla.”

EnergyDay gathered that Qore provides financing options for electric vehicle (EV) purchases and EV charging stations in Nigeria. Qore will also offer battery swapping, local assembling and manufacturing of EVs, and conversion of fossil-fuel-powered engines to EVs. 

The goal according to the company is to make clean transportation more accessible and affordable for everyone while contributing to job creation and reducing environmental impact

Abubakar Suleiman, CEO of Sterling Bank speaking during the launch of the EV charging station in Lagos last month, revealed that the Qore is the bank’s journey towards powering Nigeria’s transportation sector with renewable energy.

Suleiman said “Qore will revolutionise the very idea of how we power movement by providing clean, sustainable and cost-effective options for individuals and businesses, while impacting positively on the sector’s environmental footprint.”

Olabanjo Alimi, Group Head for Renewable Energy and Transportation at Sterling, on his part explained that Qore focuses on improving mobility services in Nigeria by providing affordable and cleaner transportation alternatives to petrol- and diesel-powered vehicles.

He described Qore as a “mobility project” that will offer a range of products, including the manufacture and sale of EVs, financing for the purchase and distribution of EVs, and mobility-as-a-service options to cater to first- and last-mile transportation.

Alimi said, “Qore will deliver innovative solutions through partnerships that provide sustainable energy options for vehicles through stations such as this. This will accelerate the adoption of clean mobility solutions that allow interested customers to buy EVs directly, or even convert their existing petrol- or diesel-powered vehicles to run on electricity.”

EnergyDay’s check showed that Sterling Bank has set itself apart as the first corporate organization on the African continent to full power up its offices with a renewable energy source by installing over 3000 Building Integrated Photovoltaic (BIPV) panels, generating 1 megawatt (1 MW) of electricity.

The bank has also launched imperium, an alternative energy solution, to power Nigerian homes and businesses through solar and renewable energy services tailored specifically for Nigeria’s peculiar energy needs. This move demonstrates the bank’s commitment to the growth and development of renewable energy in Nigeria.