Nigeria awaits 10 new auto plants as FG says policy on track

As part of economic measures established to ensure effective operations of the Automotive Policy of the Federal Government of Nigeria that encourages enabling environment for auto plants for the production of various brands of vehicle, the Federal Government says the plan is on track as 10 new auto plants would soon open shops.

The awaiting location and operations of more auto plants later this year in some states, including Ogun State and some other states in the country, are coming against the backdrop of government’s desire to woo more investment in automobile sector to the country‎ in order to encourage inputs of locals in auto production, thereby creates wealth, jobs and reduces unchecked imports of new and second-hand vehicles.

The Automotive Policy, which forms part of National Revolution Plan, according to Olusegun Aganga, minister of industry, trade and investment, was conceived not only to encourage production and assemblage of vehicles and machines in Nigeria, but also to enforce some level of local contents in the raw-materials used for automobiles and its allied products, increasing demand for local sourcing of ‎relevant raw materials needed in the industry.

Speaking at a working visit made to Coleman Wires and Cables Factory along Shagamu-Benin Express Road in Ogun State recently, the minister disclosed that 10 new automobile assemblers had perfected plans to open plants in the country in addition to the already located auto plants, including Nissan, Peugeot, Hyundai, Volkswagen, and Innoson Motors.

“We have decided, for the first time in this country, to establish National Revolution Plan. In the Revolution Plan, we promote value addition and ensure that we produce the needs in this country. That is why Hyundai is in this country; Nissan is also assembling in this country.

“Volks is back, Innoson has expanded so big; the last car that I unveiled has 45 percent local content. This year, 10 new auto assemblers are coming to this country, which has never happened in the history of this country,” he said.

RAZAQ AYINLA