President Jonathan Applauds Nissan for Choosing Nigeria

 

President Goodluck Jonathan applauded the decision of one of the leading Japanese automobile manufacturers, Nissan, to build a Manufacturing plant in Nigeria.

In his post on the official Facebook page the President was optimistic about the future of such an ambitious project:

Not too long ago, we announced a new National Automobile Policy. I am happy to note that the policy is now attracting great interest in our country with the consequential benefit for job creation and savings for our nation. The announcement by the Nissan Corporation that it will be investing in our country by way of manufacturing its brand of cars in Nigeria is very heart warming. With the confirmation that Nigeria ranks fourth in the world as the fastest Return on Investment (RoI), I hereby call on other world class automobile manufacturers and other businesses to also begin their journey to establish factories in Nigeria as we have a well trained and hardworking work force, at home and abroad, ready to add value to the growth of businesses and our country. GEJ

If the project develops, Nissan will become the first global carmaker to build cars in Nigeria since west Africa's largest economy rolled out a policy to tempt investors into its nascent automotive industry.

The first vehicle to be introduced was expected to be the Nissan Patrol SUV next year. The plant would also be opened to French auto group Renault, though the companies did not give any details.

Japan’s Nissan is aiming to double annual sales in Africa by 2016 from 110,000 units last year. It already plans to launch the Datsun brand in South Africa before the end of next year.

It would be recalled that the Federal Government battles cars’ importation, by drastically increasing customs fees and duties on imported vehicles starting from January 2014. Nevertheless, development of local automobile industry is encouraged.