Danjuma Amodu | February 1, 2026
Nigeria has signed a Memorandum of Understanding (MoU) with South Korea’s Asia Economic Development Committee (AEDC) to establish an Electric Vehicle (EV) manufacturing plant and develop charging infrastructure nationwide.
The MoU was signed by Senator John Enoh, Minister of State for Industry, Trade and Investment, in Abuja on January 30, 2026.
This agreement aligns with Nigeria’s National Energy Transition Plan and National Automotive Industry Development Plan, aiming to boost local manufacturing and green energy adoption.
The project will be implemented in phases, starting with EV assembly and expanding to full in-house production, with an estimated capacity of 300,000 vehicles and the creations of approximately 10,000 jobs.
The initiative is expected to accelerate technology transfer, investment promotion, human capital development and research, design, and innovation.
Senator Enoh expressed the Federal Government’s commitment to ensuring the project’s timely completion, describing it as a cornerstone of Nigeria’s industrial development. AEDC Chairman, Yoon Suk Hun, reaffirmed his organisation’s commitment, pledging to deploy Korea’s development experience to fast-track Nigeria’s automotive growth.
