NEWS
Nigeria Accelerates Green Revolution as Federal Government and South Korea Sign Landmark Deal to Manufacture Electric Vehicles Locally
In a historic move aimed at transforming Nigeria’s automotive sector and driving the country’s clean energy agenda, the Federal Government has signed a strategic agreement with South Korea to establish an electric vehicle (EV) manufacturing plant on Nigerian soil.
The groundbreaking Memorandum of Understanding (MoU) was formalized by the Minister of State for Industry, John Enoh, alongside officials from South Korea’s Asia Economic Development Committee (AEDC), signaling the start of a high-impact partnership designed to revolutionize the local automotive industry.
According to government sources, the collaboration will prioritize the transfer of cutting-edge technology, promotion of domestic and foreign investment, development of human capital, and the advancement of research, design, and innovation in the EV sector.
The ambitious project is planned to roll out in phases. It will initially focus on assembling electric vehicles, before gradually transitioning into full-scale, in-house production of EVs in Nigeria. Once fully operational, the facility is projected to produce up to 300,000 vehicles annually and generate approximately 10,000 direct jobs, providing a significant boost to local employment and industrial capacity.
Industry experts have described the initiative as a major step in aligning Nigeria with global green energy trends, while also positioning the country as a hub for advanced automotive technology in Africa.
This development is expected to not only reduce the nation’s carbon footprint but also catalyze the growth of ancillary industries, including battery production, charging infrastructure, and EV maintenance services, laying the foundation for a sustainable and future-ready transportation ecosystem.