Nigeria signs electric vehicle factory agreement with South Korea

Sierra Leone Telegraph: 8 February 2026:

Nigeria has signed a memorandum of understanding with South Korea’s Asia Economic Development Committee to establish an electric vehicle manufacturing plant and nationwide charging infrastructure.

The project is intended to support local EV production with a planned annual capacity of 300,000 vehicles.

According to the National Automotive Design and Development Council (NADDC), the partnership is expected to contribute to technology transfer, investment promotion, and skills development.

Commenting on the initiative, the council noted that it would ‘accelerate technology transfer, investment promotion, human capital development, as well as research, design and innovation,’ as Nigeria seeks to establish a sustainable automotive ecosystem that supports local manufacturing and electric mobility adoption.

The project will be implemented in phases, starting with vehicle assembly before progressing to full local manufacturing.

The council stated that it expects EV production to reach ‘an estimated capacity of 300,000 vehicles’ and that it would create ‘approximately 10,000 jobs.’ However, there is no mention of a timeline.

The planned facility is intended to support Nigeria’s ambition to reduce its reliance on imported vehicles and to build local capabilities in electric mobility.

According to local media, Nigeria currently imports several hundred thousand vehicles each year, the majority of which are used petrol and diesel vehicles.

This is not the first step the country has taken towards setting up EV production.

At the end of last year, the country’s Senate passed the ‘Electric Vehicle Transition and Green Mobility Bill, 2025,’ which promotes local production of electric vehicles, job creation and mandates a nationwide charging infrastructure.

Additionally, it imposes strict requirements on foreign car manufacturers, offers tax incentives and creates a coordinated legal framework involving key ministries.

The government has introduced policy measures to encourage electrification, including a consumer credit programme launched in December 2024 to support the purchase of locally assembled electric cars, motorcycles and three-wheelers.