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Two Indian firms plan auto plants in Nigeria

By BusinessNews Staff on January 14, 2014

Less than three months after the announcement of the National Automotive Industry Development Plan, two vehicle manufacturing companies from India have indicated interest in establishing plants in Nigeria.

The development was confirmed in a statement issued on Sunday by the National Automotive Council.

The move is also coming about two weeks after the Federal Government said it would encourage auto manufacturers to produce less expensive vehicle models in the country within the price range of N1.2m to N1.5m.

NAC gave the names of the two Indian firms as TATA Motors based in Mumbai and TVS Motor Company from Tamil Nadu.

The statement said the companies’ interests were disclosed to the Director-General, NAC, Mr. Aminu Jalal, when top management executives of the two firms visited the head office of the council in Abuja.

Their visit was to obtain technical details, administrative requirements and guidelines towards the setting up of the plants in the country under the NAIDP.

Meanwhile, Nigeria and Germany are set to collaborate on trade facilitation as well as Micro, Small and Medium Enterprises’ development as part of efforts to strengthen already existing economic ties between the two countries.

The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, confirmed this after a meeting with the German Ambassador to Nigeria, Dorothee Janetzke-Wenzkel, and the Country Director, German Cooperation, Dr. Thomas Kirsch, in Abuja.

Aganga, in a statement, said his ministry would work with the German government to boost industrial skills development and improve access to finance for MSMEs across the country, in line with the focus of the National Enterprises Development Programme.

[Punch]

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