The latest partnership between Nigeria’s Coscharis Group and French Groupe Renault SKD to begin vehicle assembly in Nigeria is expected to create business spin-offs, employment and place Nigeria as car manufacturer on global map.
Between 1950s and early 80s, the automotive industry, dominated by foreign brands blossomed and employed thousands of Nigerians. But by early 90s, their operation was negatively affected by importation of used cars, downturn in the economy, government’s inconsistency and higher cost of locally manufactured cars compared to imported counterparts.
Nevertheless, Nigerian government through the automotive plan which contains a number of policy measures is trying to revitalise the auto industry for job creation and local value addition.
With the understanding that the automobile industry assists to catalyse the economy, Coscharis partnership with Renault which keys into the government’s auto policy will hopefully bring back old days on government’s policy consistency. Coscharis said it invested about N1.7 billion on new its assembly plant situated at Awoyaya, Lagos.
According to Cosmas Maduka, President of Coscharis Group his company made the move by making huge financial investments to acquire the plant, adding that the decision was a demonstration of the company’s strong believe and faith in Nigeria’s automotive industry.
Speaking at the unveiling of the plant and launch of his partnership with Renault recently, he said the huge investment in both financial and human resources was a great sacrifice that would ultimately help create the much desired job opportunities for Nigerians as well as help in growing the economy.
Worried about growing unemployment in the face of growing youth population, Maduka said jobs can only be created if government provides enabling environment and support the local manufacturers by patronising the industry and make a policy to buy only made in Nigerian cars that are well tested and built for Nigerian roads. Also speaking, the Group Managing Director of Coscharis, Josiah Samuel believed that assembly plants that produce volumes will attract component manufacturers that will further create jobs for Nigerian youth.
Chairman, Groupe Renault Fabrice Cambolive promised that Renault will offer the Nigerian clients a unique, original range that is perfectly adapted to the conditions of the country. “Renault has an offer that meets the expectations of the new African middle class in terms of attractiveness, durability and equipment such as connectivity”
He said Nigeria with a population of about 200 million, is a strategic African country where Groupe Renault will extend its footprint and Coscharis Group, big player in car assembly and distribution has been recognized as partner.
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