By Joy Onu
Nigeria has taken a significant step toward developing its electric vehicle (EV) industry with the signing of a Memorandum of Understanding (MoU) between the Federal Ministry of Industry, Trade and Investment (FMITI) and the Asia Economic Development Committee (AEDC) of the Republic of Korea.
According to a press release issued by Obilor-Duru Augustina, Head, Press and Public Relations, the agreement was formalised at a signing ceremony in Abuja attended by senior government officials, automotive industry representatives and international partners, underscoring Nigeria’s growing focus on industrial transformation and sustainable development.
Speaking at the event, the Minister of State for Industry, Senator John Owan Enoh, said the partnership aligns with the Federal Government’s industrial policy objectives of economic diversification, job creation, expanded domestic manufacturing and reduced import dependence.
He noted that the electric vehicle sector presents an opportunity to integrate manufacturing, energy solutions and sustainability within a globally competitive value chain. According to the Minister, the project is anchored on the Nigeria First Policy and will be implemented in phases, beginning with complete vehicle assembly and progressing to full-scale local production.
Senator Enoh added that the initiative prioritises technology transfer, skills development and localisation, describing the investment as a vote of confidence in Nigeria’s industrial capacity and workforce. He also said the National Automotive Design and Development Council (NADDC) would ensure compliance with national automotive policies, standards and localisation targets.
The Chairman of AEDC, Mr. Yoon Suk-hun, expressed confidence in Nigeria’s potential to emerge as a major player in the global electric vehicle market. He said AEDC’s decision to partner with Nigeria was influenced by the commitment shown by Nigerian leadership and the extensive consultations held during the engagement process.
Also speaking, the Director-General of NADDC, Otunba Oluwemimo Joseph Osanipin, who was represented by the Head of Policy, Planning and Statistics, Mr. Nura Sidi, described the MoU as a landmark development capable of repositioning Nigeria’s automotive sector and accelerating its integration into regional and global value chains.
Earlier, the Permanent Secretary of FMITI, Ambassador Abba Nura Rimi, said the agreement reflects Nigeria’s growing credibility as an investment destination and urged stakeholders to remain focused on implementation and long-term economic impact.
The ceremony ended with the formal signing of the MoU by representatives of NADDC and AEDC, laying the groundwork for the establishment of electric vehicle manufacturing facilities and charging infrastructure in Nigeria.
