The Federal Government of Nigeria has entered into a strategic partnership with South Korea’s Asia Economic Development Committee (AEDC) to establish the continent’s first large-scale Electric Vehicle (EV) manufacturing plant. The Memorandum of Understanding, signed on January 30, 2026, marks a transformative shift in Nigeria’s industrial policy, aiming to transition the nation from a heavy reliance on imported used vehicles to a self-sufficient hub for green technology. This bilateral agreement is led by the Ministry of Industry, Trade, and Investment in conjunction with the National Automotive Design and Development Council (NADDC).

The project features a high level of brand synergy, integrating South Korean technical expertise with Nigeria’s growing domestic automotive sector. While the AEDC serves as the primary investment and technical partner bringing global standards associated with leaders like Hyundai and LG Energy Solution, the initiative will actively collaborate with local manufacturers, including Innoson Vehicle Manufacturing, Nord Motors, and Mikano. This alliance is designed to foster a robust local supply chain that ensures international quality while maintaining indigenous brand participation in the emerging EV market.

Development of the facility will follow a structured two-phase timeline to ensure sustainable industrial growth. The initial phase focuses on the immediate establishment of a Complete Knock-Down (CKD) assembly plant, where vehicles will be assembled from imported kits to build technical familiarity. The second phase will see a transition into full in-house manufacturing, involving the local production of complex components such as chassis, body parts, and wiring systems. Once the facility reaches full operational capacity, it is projected to produce 300,000 electric vehicles annually, significantly cutting the nation’s $10 billion annual expenditure on fuel and vehicle imports.

Beyond physical production, the partnership is set to offer a deep level of technological development for the Nigerian workforce through comprehensive technology transfer. The project is estimated to create 10,000 direct high-tech jobs, specifically targeting Nigerian engineers for training in advanced power electronics, battery management systems, and software integration. Furthermore, the deal encompasses the rollout of a nationwide charging infrastructure network, positioning Nigeria to leapfrog traditional fossil-fuel constraints and establish a world-class automotive ecosystem within the next two decades.