Nigeria has signed a groundbreaking Memorandum of Understanding (MoU) with South Korea’s Asia Economic Development Committee (AEDC) to establish what is being touted as Africa’s first electric vehicle (EV) manufacturing plant.

The agreement, signed on January 30, 2026 by Nigeria’s Minister of State for Industry, Senator John Enoh, and AEDC Chairman Yoon Suk-hun, forms a key part of the country’s push to industrialise its automotive sector and lead the continent’s transition to clean mobility.

The EV initiative will be rolled out in phases, beginning with vehicle assembly before expanding into full in-house EV production, with a projected annual capacity of 300,000 vehicles.

Alongside manufacturing, the partnership includes plans to develop critical charging infrastructure nationwide, enabling widespread adoption of EVs and supporting efforts to reduce dependency on imported fossil-fuel vehicles.

This move aligns closely with Nigeria’s National Energy Transition Plan (ETP) and its National Automotive Industry Development Plan (NAIDP) to boost local manufacturing and green technology.

Economists and industry experts say the plant could be a major economic and technological milestone for West Africa.

The project is expected to generate around 10,000 direct jobs, promote technology transfer, strengthen human capital through skills development, and stimulate research and innovation in automotive design and clean energy. In doing so, Nigeria aims to build a sustainable automotive ecosystem that enhances competitiveness, attracts investment and positions the country as a regional hub for renewable mobility.