Nigeria, South Korea Sign Agreement to Set Up Electric Vehicle Manufacturing Plant
- Nigeria has signed an MoU with South Korea to set up an electric vehicle manufacturing plant and charging infrastructure in the country.
- The project will start with EV assembly before expanding into full production with a capacity of 300,000 vehicles, according to the NADDC.
- NADDC said the initiative, which aligns with Nigeria’s energy transition plans, could create about 10,000 jobs and support technology transfer and innovation.
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
The federal government has signed a memorandum of understanding (MoU) with South Korea to establish an electric vehicle (EV) manufacturing plant and develop charging infrastructure across Nigeria.
Source: UGC
According to the National Automotive Design and Development Council (NADDC), the agreement was signed on January 30 by the minister of state for industry, John Enoh, and representatives of South Korea’s Asia Economic Development Committee (AEDC).
In a post shared on X on Saturday, the council said the partnership supports Nigeria’s National Energy Transition Plan (ETP) and the National Automotive Industry Development Plan (NAIDP).
EV project to create 10,000 jobs
The NADDC explained that the project will be rolled out in phases, starting with EV assembly before expanding into full in-house manufacturing. It added that the planned facility is expected to have a production capacity of about 300,000 vehicles and create roughly 10,000 jobs.
Speaking at the signing ceremony, the director-general of the NADDC, Oluwemimo Osanipin, said the initiative would boost technology transfer, attract investment, strengthen human capital development, and promote research and innovation in the automotive sector.
Osanipin was represented at the event by Nura Sidi, the council’s head of policy, planning and statistics.
The council said the collaboration reflects Nigeria’s ongoing efforts to build a sustainable automotive ecosystem that encourages local manufacturing, supports green energy adoption, and improves global competitiveness.
The development comes amid growing interest in electric mobility in Nigeria. Wale Tinubu, group chief executive officer of Oando Plc, has projected that electric vehicles could make up 50% of the country’s total vehicle population within the next 20 years.
In addition, the Senate on November 5, 2025, passed the second reading of a bill seeking to establish legal and policy frameworks to guide Nigeria’s transition from petrol-powered vehicles to electric alternatives, The Cable reported.
The sponsor of the bill, Senator Orji Uzor Kalu, said the proposed legislation aims to cut carbon emissions, promote local manufacturing, and position Nigeria to benefit from the global shift towards cleaner transportation.
Source: Getty Images
Auto dealers move to EVs
Legit.ng earlier reported that Nigerian car dealers are moving towards electric vehicles as the demand for petrol and diesel vehicles has dropped significantly.
The Association of Motor Dealers of Nigeria said its members are considering focusing on electric and gas-powered cars as profitable alternatives to petrol vehicles based on demand.
The association also said it is looking to promote Nigerian-made vehicles, noting that these alternatives represent the future of transportation in Nigeria.
Source: Legit.ng
