In a move to accelerate Nigeria’s transition to clean energy and boost local industrial capacity, the Federal Government has signed an agreement with South Korea to establish an electric vehicle manufacturing plant in Nigeria.
The Memorandum of Understanding (MoU) was signed by the Minister of State for Industry, John Enoh, and representatives of the Asia Economic Development Committee (AEDC) of South Korea.
The initiative will accelerate technology transfer, investment promotion, human capital development, and research, design, and innovation.
The project is said to be implemented in phases, beginning with EV assembly and expanding into full in-house production, with an estimated capacity of 300,000 vehicles and the creation of approximately 10,000 jobs.