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N500 Billion Invested By Private Automotive Companies In Nigeria – NADDC (PHOTOS)

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3 years ago

August 16, 2021

N500 Billion Invested By Private Automotive Companies In Nigeria - NADDC - autojosh

National Automotive Design and Development Council (NADDC) says N500b has been invested by private automotive companies in Nigeria.

These companies includes Dangote-SinoTrucks, Innoson, PAN, Cherry, Peugeot, Stallion Group, Hyundai, Honda and Elizade.

Others are Lanre Shittu, JAC, Kojo, Nord, Omaa, Vistar, Jet Systems, National Trucks Manufacturers, GAC, KIA and Mikano/Geely.

According to NADDC, the Nigerian Automotive sector can produce 400,000 vehicles per annum.

The National Automotive Design and Development Council (NADDC), says its unrelenting efforts has seen Nigerian and international companies invest half a trillion naira (over N500 billion) in setting up factories towards the development of the nation’s automotive sector.

These companies, according to NADDC, includes Dangote-SinoTrucks, Innoson, PAN, Cherry, Peugeot, Stallion Group, Hyundai, Honda, Elizade, Lanre Shittu, JAC, Kojo, Nord, Omaa, Vistar, Jet Systems, National Trucks Manufacturers, GAC, KIA and Mikano/Geely.

Early this week, the Council’s Board Chairman, Senator Osita Izunaso, together with Board Members, Mr. Tokunbo Aromolaran, Dr. Nankin Bagudu, Engr. Emmanuel Kwaya, Reverend Lambert, Dr. Obi, and Director General/CEO Jelani Aliyu, toured a number of these factories.

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These commited companies, who are now actively producing/assembling vehicles in Nigeria, have a combined installed capacity to produce over 400,000 vehicles per year.

And this capacity is not only made up of fossil fuel powered vehicles. Recent developments have seen the start of Electric Vehicles assembly in Nigeria with the Hyundai Kona EV, and the test run of the Jet Systems Electric Van.

So, fundamentally, the Nigerian Automotive sector can produce 400,000 vehicles per annum, what the nation needs is Nigerians to buy that number of these locally produced/assembled vehicles instead of spending money on 400,000 second hand imported vehicles that have been used and dumped by other counties.