Nigeria has signed a memorandum of understanding (MoU) with South Korea’s Asia Economic Development Committee (AEDC) to establish Africa’s first electric vehicle (EV) manufacturing plant, a move officials say could transform the continent’s automotive sector. The agreement was signed on January 30, 2026, by Nigeria’s Minister of State for Industry, The Cable reported.
The facility will initially focus on EV assembly before scaling up to full local production, with a projected annual capacity of 300,000 vehicles once fully operational. Plans also include development of nationwide EV charging infrastructure, according to documents from the National Automotive Design and Development Council.
Authorities say the partnership supports Nigeria’s National Energy Transition Plan and National Automotive Industry Development Plan, aiming to attract investment, transfer technology and create an estimated 10,000 jobs. Officials emphasised that the initiative will strengthen Nigeria’s competitiveness and foster the growth of a local automotive ecosystem, The Street Journal reported.
Analysts note the project reflects Nigeria’s ambition to reduce reliance on imported vehicles and become a regional hub for clean mobility. They caution, however, that long-term success will depend on consistent power supply, supportive policies, and broader infrastructure improvements, as highlighted by industry observers cited by EV24 Africa.
Image Source: africa.businessinsider.com
