FG, South Korea sign agreement to manufacture electric vehicles in Nigeria
The federal government has announced the signing of a Memorandum of Understanding with South Korea, to establish a plant for the manufacturing of electric vehicles in Nigeria.
The National Orientation Agency, in a statement on X, on Monday, said the minister of state for industry, John Enoh, signed the agreement with the Asia Economic Development Committee of South Korea.
The NOA said, “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 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.”
According to the agency, the initiative is aimed at boosting Nigeria’s transition to clean energy and boost local industrial capacity, adding that it will also accelerate technology transfer, investment promotion, human capital development, and research, design, and innovation.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
States
Independence: NBA urges Nigerians to expect better future
The NBA said that ordinary Nigerians should be deriving benefit from the subsidy removal rather than hardship.
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Police warn youths against blocking Kebbi-Sokoto highway
Mr Usman said the latest blockade disrupted vehicular movement for about three hours.
Africa
U.S. warns citizens travelling to South Africa over crime, terrorism, unrest
The acting national police commissioner said at least 10 vehicles were burnt in Johannesburg and 14 in Durban.
Economy
Nigeria’s $1 trillion economy depends on homegrown innovation, market access: NBTI DG
The DG said sustainable national prosperity cannot be achieved through government expenditure or natural resources alone.
NationWide
NBET begins N729 billion legacy debt payments to GenCos
Mr Odeyemi described the development as a significant milestone in implementing the debt reduction programme.
Africa
Anti-foreigner protests force South Africa to withdraw asylum seekers applications
The protests erupted over a Constitutional Court ruling easing access to asylum.
Heading 2
2028 Olympics: Super Falcons defeat Comoros 2-0 in first leg
The Nigerian team finally opened the scoring in the 48th minute with a tap-in by Michelle Alozie.
