By Newspot Nigeria Business Desk
Nigeria has signed a memorandum of understanding (MoU) with South Korea’s Asia Economic Development Committee (AEDC) to establish a large-scale electric vehicle (EV) manufacturing and assembly facility, marking a significant step in the country’s push toward clean mobility and industrial expansion.
The agreement, signed on January 30, 2026, by the Minister of State for Industry, Senator John Owan Enoh, outlines plans to begin with electric vehicle assembly before scaling up to deeper local production. When fully operational, the proposed facility is projected to have an annual production capacity of up to 300,000 vehicles.
In addition to vehicle production, the partnership includes plans for the development of nationwide EV charging infrastructure, aimed at supporting Nigeria’s long-term transition to cleaner transportation systems.
Officials say the initiative aligns with Nigeria’s National Energy Transition Plan and the National Automotive Industry Development Plan. The project is expected to drive technology transfer, boost local manufacturing capacity, reduce dependence on vehicle imports, and generate an estimated 10,000 direct and indirect jobs.
Industry observers note that while the MoU signals strong policy intent, the success of the project will depend on reliable electricity supply, regulatory consistency, infrastructure readiness, and investor confidence.
Nigeria has in recent years positioned itself as a potential hub for automotive production in West Africa. Analysts say scaling EV manufacturing could strengthen the country’s competitiveness in emerging mobility technologies, particularly as global markets accelerate the shift toward electrification.
The government has not yet announced a timeline for groundbreaking or disclosed the exact location of the proposed facility.
— Newspot Nigeria
