Nigeria’s automotive industry has got a fresh boost with TATA Motors investment of over $8 million (N1.5bn) as part of its preparations to roll out its first batch of Nigerian assembled cars for subsequent exportation to other parts of Africa.
Kshitij Verma, the company’s regional manager, made the disclosure during a meeting with the management of National Automotive Council (NAC) last week in Abuja.
Nigeria’s automotive industry has got a fresh boost with TATA Motors investment of over $8 million (N1.5bn) as part of its preparations to roll out its first batch of Nigerian assembled cars for subsequent exportation to other parts of Africa.
Kshitij Verma, the company’s regional manager, made the disclosure during a meeting with the management of National Automotive Council (NAC) last week in Abuja.
The target of the company is not just to start assembling of automobiles in Nigeria but also to establish a sub-regional centre in Nigeria where vehicles will be manufactured for exportation, Kshitij said, saying already the company had employed over 240 Nigerians, many of whom were currently undergoing training in India. They have already installed a factory on a large expanse of land measuring about 130 hectares at Ijebu Ode, Ogun State.
In his response, Aminu Jalal, director-general, NAC, said the coming of TATA and other foreign auto companies was an expression of the confidence global investors had in the potentials of Nigeria’s auto industry.
“Unlike in the previous attempts in automotive development in Nigeria, which was undermined by badly managed trade liberalisation policy, the present attempt is characterised by the involvement of local entrepreneurs with experience in the motor industries,” Jalal said.
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