Africa, Business, invesment, Invesments, news, Uncategorized, World Bank, World Bank Group

Africa News January 24, 2014 at 04:26PM

this blog is spored BY reflex Eco Group

VENTURES AFRICA – In line with Nigeria’s new automotive policy, Nissan will unveil a new line of locally manufactured cars at an old Lagos Volkswagen Assembly plant by April, Renault-Nissan CEO, Carlos Ghosn has said.

“We are interested in producing popular cars, totally adapted to the needs of Nigerians,” Ghosn told president Goodluck Jonathan at the ongoing World Economic Forum at Davos, Switzerland.

Though reports wrongly claim the Nissan 4X4 SUVs which would be rolled out in April will be Nigeria’s “first made in Nigeria” cars under the new automotive policy, Innoson Motor Company (IVM)began production in 2012 at its Nnewi plant.

According to the National Automotive Council, “Nigeria’s current vehicle inflow into the economy is about 50,000 new and 150,000 used ones… and is set to rise as the economy improves.”

Ghosn, under whose leadership Nissan’s production grew to over 10 million, informed President Jonathan that Nigeria had the potential to produce two to three million cars yearly adding that the automaker plans to establish a production complex and further increase investments in the emerging country.

The French-Brazilian exec also said that Nissan plans to attract its global suppliers to produce auto parts in the country.

Nigeria’s present administration, in an effort to transform the country’s over-dependence on oil revenues, rolled-out the new automotive policy to create jobs and jolt its manufacturing industry decades after Peugeot, Leyland and Volkswagen shutdown plants in the country.

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