FG Turns To Auto Sector To Revamp Economy

August 18, 2016

auto sector

President Muhammadu Buhari has expressed his willingness to empower the automobile industry in the country so as to give the economy fresh air.

Mr Buhari made this known on Tuesday when the Executive Members of Association of Africa Automotive Manufacturers (AAAM), led by the chairman, Mr Jeff Nemeth, visited him at the Presidential Villa in Abuja.

The President said Nigeria as a country recognized her problems early enough, but remained potential for too long, and so did not achieve much results.

Mr Buhari observed that to reverse the trend, “We must avoid the mistakes made in the past by both government and manufacturers, and we are ready to get investment from all quarters, so that we can improve the lives of our people.”

According to him, Nigeria failed to develop on automobile initiatives started in Bauchi, Kaduna and Ibadan, and depended too much on oil as mainstay of her economy.

But he said, “We are making efforts to start our steel industry all over again. I see vast opportunities for both the country and those who invest here.”

Responding, Mr Nemeth said the Association comprised potential investors who were ready to unlock investment potentials on the African continent.

“We are ready to offer strategic partnership with Nigeria. We want to promote investor-friendly regulatory frameworks and sustainable manufacturing.

“We will equally promote infrastructure development, job creation, and skills transfer,” he said.

The AAAM chairman sought the support of the Presidency in the realization of the vision and mission of the association.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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