Nigeria and South Korea Partner to Build Africa's First EV Manufacturing Plant

Nigeria's Federal Ministry of Industry, Trade and Investment (FMITI) has signed a deal with South Korea's Asia Economic Development Committee (AEDC) to build Africa's first electric vehicle (EV) manufacturing powerhouse. The agreement includes plans to establish a large-scale EV assembly and manufacturing plant in Abuja, along with a nationwide charging infrastructure network.

The project will be implemented in two phases, focusing on local EV assembly initially and transitioning to full-scale manufacturing later. It aims to produce 300,000 EVs annually, generating 10,000 direct jobs and thousands more in related industries.

The initiative seeks to reduce fuel imports, cut emissions, and strengthen energy security in Nigeria. The partnership also aims to develop battery technology, charging stations, and a comprehensive EV ecosystem.

Officials emphasize the project's role in promoting industrial growth, job creation, and technology transfer in Nigeria's automotive sector.