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Diplomazia Economica/Sole 24 Ore – Nigeria seeks investments in auto industry

Nigeria seeks investments in auto industry

The National Automotive Council recently drafted a plan for the revitalisation of the Nigerian auto industry through the attraction of investments in the production and assembly on site of parts and vehicles. The plan was presented by Council Director Aminu Jalal to European Union officials at the latest of periodical meetings coordinated by the delegation in Abuja. The Nigerian market is currently dominated by Asia manufacturers Toyota, Honda, Hyundai, Nissan e Kia; and to a lesser extent by European brands Peugeot, Renault, Land Rover and Mercedes; Porsche stands out in the luxury sport vehicle sector. UNCTAD data for 2012 show that approximately 100,000 used vehicles were imported and 300,000 new ones, for a total value of approximately 3.45 billion USD, compared with 2.76 billion in 2011 and 4.17 billion in 2010. With annual growth of 7% and a steadily growing population, it is likely to assume a rising need for automobiles in a country where valid alternatives in land transportation are virtually non-existent. (infoMercatiEsteri)

Read more, in Italian