Nigeria signs agreement with South Korea’s AEDC to establish Africa’s first EV manufacturing plant.

The agreement marks a major step in the country’s push to localize vehicle production and green technology adoption.

With a electric vehicle (EV) production capacity of 300,000 vehicles, the plan is expected to create about 10,000 jobs.

Nigeria has signed a memorandum of understanding (MOU) with South Korea’s Asia Economic Development Committee (AEDC) for the establishment of what the National Automotive Design and Development Council (NADDC) calls Africa’s first EV manufacturing plant.

The agreement was signed in Abuja on January 30th 2026 by Minister of State for Industry, Federal Ministry of Industry, Trade and Investment (FMITI), Senator John Enoh, and AEDC Chairman, Yoon Suk-hun for South Korea.

The agreement marks a major step in the country’s push to localize vehicle production and green technology adoption. At the event, Enoh pledged to work in close coordination with AEDC to ensure the rapid completion of Africa’s first advanced, world-class EV manufacturing plant.

The Minister also affirmed that the Federal Government will extend its full cooperation and mobilize all available resources to ensure that the project becomes a key engine of Nigeria’s industrial development.

“The phase I and II of the project will focus on building complete EV Assembly Plant and establishment of facilities capable of full in-house production respectively. With a production capacity of 300,000 vehicles, the plan is also expected to create about 10,000 jobs.

A statement by NADDC stated that this MoU aligns with the FG’s National Energy Transition Plan (ETP) and the National Automotive Industry Development Plan(NAIDP), two policies of the government that are aimed to build an ecosystem for EV infrastructure development, expansion as well as adoption.

“The gains of this significant initiative cannot be overemphasized, as the expansion of EV adoption will not only help to reduce the approximately $10 billion spent annually on refined fuel imports, but will also act as a catalyst for nationwide economic growth through the explosive expansion of related industries such as auto parts, charging infrastructure, and vehicle mentainance, thus positioning Nigeria as a leading technology- driven nation in Africa.”

Building upon the legacy of AEDC, a non-governmental organisation that operates independently in close cooperation with leading policy makers and international institutions, the AEDC Chairman, Yoon Suk Hun expressed strong commitment :

“We will devote all of our capabilities to ensuring that Nigeria’s EV industry is built in the most economically viable manner and operated with maximum efficiency, while achieving global competitiveness.”

“Drawing on Korea’s spirit and development experience, our goal is to elevate Nigeria’s automotive industry to world-class standards within 20 to 30 years- an achievement that took advanced economies 150 years and Korea 60 years to accomplish,” he stated.

Emphasizing the significance of the MoU, Eno said the project aligns strongly with President Tinubu’s push for “Nigeria First Policy” aimed to boost local production and industrial development, stating that the event represents the commitment of the Federal Government in building a diversified economy that is driven by local production.

• See Also : China’s BYD Overtakes Tesla As The World’s Biggest EV Maker