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Visiting foreign auto-investors’ canvass African approach to local production

A delegation of International Automotive Investors comprising of Original Equipment Manufacturers (OEMs) and other stakeholders, has made case for a strategic African approach to growing local car manufacturing.

Leader of the delegation, Mr. Thomas Schaefer, who addressed the Vice President and Minister Industry, Trade and Investment, Dr Okechukwu Enelamah, revealed that his team’s visit to Nigeria is to advance discussions on developing the African automotive industry by adopting an African approach.

Also the Minister of Finance, Mrs. Kemi Adeosun, the Director-General of the National Automotive Design and Development Council (NADDC), Mr Jelani Aliyu and other top government officials, were at the meeting.

He said “the plan is to have short, medium and long-term approaches that targets growth in the manufacture of cars in Nigeria, similar to the over 60,000 cars produced per annum in South Africa.”

Schaefer, who was aware that Nigeria remains as an important segment of the African automotive sector, said the investors are also pushing for the passage, into law, of Nigeria’s new automotive policy capable of advancing the growth of Africa’s automotive sector.

In his remarks, Dr. Enelamah said the delegation had held different levels of discussions with stakeholders in the local industry and relevant government agencies with the view to driving investments in the sector in Nigeria.