• Friday, April 26, 2024
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Nigeria’s auto sector to get more foreign investment

Nigeria’s auto sector to get more foreign investment

Belarus, a European nation, says it is encouraged by the development in Nigeria’s economy, and is willing to invest in it, particularly in the automotive industry.
This development is coming following the success of the recently signed memorandum of understanding (MoU) between the Federal Government of Nigeria and Volkswagen Group for the production of various brands of Volkswagen vehicles in Nigeria.
Speaking in Abuja recently at a working visit to the National Automotive Design and Development Council (NADDC), Vyacheslav Brill, ambassador of Belarus to Nigeria, said his country was eager to come in and invest in the country’s economy.

The ambassador said his country had global expertise in agricultural mechanisation and machinery like tractors, harvesters, among others, adding they were also willing to invest in the production of trucks and other heavy duty vehicles in Nigeria.
According to Brill, his country has already made significant contributions for Africa’s development through the Africa Export Import Bank, adding that Belarus was ready to increase its presence and economic significance in Nigeria.
Receiving the delegation while assuring them that the government will continue to create and maintain the enabling environment for development, the director-general of NADDC, Jelani Aliyu, said the council was ready to work with them in areas of automotive development, particularly in the production of agricultural equipment and urban transit solutions.

The director-general said NADDC had already built test centres in various parts of the country in readiness for the productions of vehicles in Nigeria, adding these centres would be commissioned early next year.
Agriculture remains a main economic activity in Nigeria, he said, pointing out the Council was willing to support Belarus in the production of tractors and other agricultural mechanisation equipment in Nigeria.