The Federal Government of Nigeria has signed a Memorandum of Understanding (MoU) with South Korea to set up a plant for the manufacturing of electric vehicles (EVs) in the country.
The agreement was signed by the Minister of State for Industry, John Enoh, and representatives of the Asia Economic Development Committee (AEDC) of South Korea, according to a statement by the National Orientation Agency (NOA) on Monday.
The EV project is planned to be implemented in phases, starting with vehicle assembly and eventually moving to full in-house production. The plant is expected to have an estimated capacity of 300,000 vehicles and create around 10,000 jobs.
The initiative aims to accelerate Nigeria’s transition to clean energy while boosting local industrial capacity. It is also expected to promote technology transfer, human capital development, research, design, innovation, and investment opportunities in the country.
