Nigeria to welcome back foreign car plants

Over 10 automobile companies have shown interest in setting up car assembly plants in Nigeria since the African country introduced a new auto industry policy, Nigeria’s National Automotive Council (NAC) said Tuesday.

Some auto giants, like Peugeot and Dana Corporation, which had relocated their plants from Nigeria due to the failure of Nigeria’s previous policies, were back, NAC Director-General Aminu Jalal told reporters in Abuja, capital city of the country.

Jalal said that Nigeria recently has ushered in a new policy aimed at promoting investment in affordable made-in-Nigeria cars to reduce the huge imports, which has attracted global auto giants.

Jalal said German President Joachim Gauck would visit Nigeria in March to explore opportunities provided by the new policy.

He noted that the new policy, which encourages development of the auto industry in the country, would give Nigeria an opportunity to become a car manufacturing hub in West and Central Africa.

The auto industry in Africa currently has two hubs, South Africa and Egypt, which supply neighboring countries, he added.

Source:  shanghaidaily.com

Posted on : 25 Sep,2021 | News Source : ABNews

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