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Nigeria’s automobile industry received a boost with over $1 billion investments from renowned auto manufacturers in 2019, thereby lifting capacity to at least 408,870 vehicles yearly.
The manufacturers, which include Honda, Peugeot, Innoson, and Mitsubishi among others, have also created employment for about 4,782 Nigerians. The Director-General, National Automotive Design and Development (NADDC), Jelani Aliu disclosed this yesterday in his message to the ongoing review of the Nigerian Automotive Policy Bill, & Nigerian Automotive Industry Development Plan (NAIDP), in Abuja… More details through: https://guardian.ng/business-services/auto-industry-attracts-over-1-billion-investments/
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Within a nine-month period covering January to September this year, Nigerians spent about $1.416bn (N509.8bn) importing used vehicles into the country.
The figure was arrived at based on an analysis of the foreign trade in good statistics obtained from the National Bureau of Statistics. The cars were imported into Nigeria from the United States and some European countries such as Italy, Belgium, Germany and Canada… More details through: https://punchng.com/nigerians-spent-n509-8bn-on-imported-used-vehicles-in-nine-months/ President Muhammadu Buhari says Nigeria will collaborate with and support Hyundai Engineering Company Limited to set up a car plant and also rehabilitate petroleum refineries.
The president stated this when he received the President/Chief Executive Officer of Hyundai Engineering, Mr Chang Hag Kim, at State House, Abuja, on Tuesday. He said that Nigeria was committed to ensuring energy security in the country, “and the goal is to achieve self-sufficiency in the supply of petroleum products within the next three years.” More details through: https://www.dailytrust.com.ng/hyundai-to-set-up-car-plant-in-nigeria.html The European Union says Nigeria’s automotive industry is among its target private sector industries for long-term investment and development. An EU delegation led by Ambassador Ketil Karlsen made this known during a recent visit to PAN Nigeria Limited.
Karlsen noted Nigeria’s strong partnership with the EU and commitment of companies like PAN in sustaining business ties with France and maintaining qualitative standards of operations… More details through: https://punchng.com/nigerias-auto-industry-among-eus-investment-targets-delegate/ CFAO has partnered with Total to launch its first multi-brand, quick service franchise, AutoFast, in Total Retail Network service stations across Nigeria.
AutoFast, which currently has footprints in several African countries, offers quality and affordable car maintenance and repair services to vehicle users across the country. Total and CFAO have expressed satisfaction with the partnership which was consummated at an event at the Total service station, Wuse Zone 6, Abuja. More details through: https://www.dailytrust.com.ng/cfao-total-seal-deal-on-multi-brand-auto-service.html French carmaker Renault and Nigerian conglomerate, Coscharis Group, have formed a partnership to assemble and distribute Renault vehicles in Nigeria beginning from October, the companies said on Thursday.
A report by Reuters indicated that the Coscharis Group plant would start assembling Renault Logan and Renault Duster vehicles and would distribute the cars through their sales network throughout Nigeria… More details through: https://punchng.com/coscharis-to-assemble-renault-cars-from-october/ Automobile enthusiasts in Nigeria are about to get fired up and live their passion once again as the renowned French automobile brand, Renault, makes a return to the country.
Precisely on Thursday, Renault will make a giant stride back into the Nigeria market. However, this time around, it will be led into the market by Nigeria’s foremost automobile dealership, Coscharis Motors Plc, one of the subsidiaries of the Coscharis Group… More details through: https://thenationonlineng.net/renault-returns-to-nigeria/ The National Automotive Design and Development Council (NADDC) has said that Nigeria spends about N2.88 trillion ($8 billion) on the importation of about 300,000 to 400,000 cars yearly…
More details through: https://www.dailytrust.com.ng/nigeria-spends-n2-88trn-to-import-400000-cars-yearly-naddc.html The automobile industry has received a major boost as one of the leading auto firms, Lanre Shittu Motors (LSM), has started the local assembly of JAC trucks at its multi-million dollar assembly plant in Lagos.
Located at Amuwo-Odofin on the Oshodi-Apapa Expressway, the plant, it was learnt, has, with the technical support from JAC China, churned out 150 units of JAC trucks. The Nation learnt that the plant has the capacity to produce over 1,800 trucks yearly… More details through: http://thenationonlineng.net/lanre-shittu-motors-builds-standard-assembly-plant-nigeria/ Activities towards the development of Nigeria into an automotive hub commenced yesterday in Lagos with a kick-off workshop for key stakeholders from the public and private sectors in Nigeria, as well as senior management of Volkswagen led by Thomas Schaefer, the Head of Sub-Saharan Region and Managing Director, Volkswagen South Africa…
More details through: https://www.premiumtimesng.com/business/business-news/297525-volkswagen-spearheads-workshop-to-make-nigeria-automotive-hub.html |
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