PRIVATE INVESTORS SET UP HALF A TRILLION AUTOMOTIVE PLANT IN NIGERIA
Some private investors have set up a automobile plant in Nigeria to foster automotive assemblage in the country
As a result of NADDC's unrelenting efforts, over half a trillion naira, i.e. over N500 billion has been invested by credible Nigerian and international companies in setting up factories towards the development of the nation's automotive sector: companies such as Dangote-SinoTrucks, Innoson, PAN, Cherry, Peugeot, Stallion Group, Hyundai, Honda, Elizade, Lanre Shittu, JAC, Kojo, Nord, Omaa, Vistar, Jet Systems, National Trucks Manufacturers, GAC, Kia, Mikano/Geely.
The Council's Board Chairman, Senator Osita Izunaso, together with Board Members, Mr. Tokunbo Aromolaran, Dr. Nankin Bagudu, Engr. Emmanuel Kwaya, Reverend Lambert, Dr. Obi, and Director General/CEO Jelani Aliyu, early this week toured a number of these factories.
These commited companies are now actively producing/assembling vehicles in Nigeria. They have a combined installed capacity to produce over 400,000 vehicles per year. And this capacity is not only made up of fossil fuel powered vehicles: recent developments have seen the start of Electric Vehicles assembly in Nigeria with the Hyundai Kona EV, and the test run of the Jet Systems Electric Van.
So, fundamentally, the Nigerian Automotive sector can produce 400,000 vehicles per annum, what the nation needs is Nigerians to buy that number of these locally produced/assembled vehicles instead of spending money on 400,000 second hand imported vehicles that have been used and dumped by other counties.
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