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Kia Nigeria pushes industrial development through locally made cars

Kia Nigeria has been playing a significant role in the drive to economic diversification and industrial development in Nigeria through the manufacture of made-in-Nigeria Kia cars.

Herbert Wigwe, chairman, consultative committee of the CIBN 14th Annual Banking & Finance Conference said during the exhibition tour with Vice President Yemi Osinbajo at the recent CIBN Conference, that assembling cars locally like Kia is doing, will boost the nation’s economic recovery and create jobs.

Wigwe, who is GMD/CEO of Access Bank Plc, said that local car production, as well as other manufacturing plants in Nigeria, will serve as a springboard for GDP growth.

“Keying into this year’s conference theme, ‘Economic Recovery, Inclusion and Transformation: The Role of Banking & Finance’, Kia Nigeria joined banks and other financial institutions in the country to demonstrate that one of the sustainable ways for inclusion and economic transformation is an industrialised economy that is poised for employment creation,” he explained.

Read also: 400,000 cars imported into Nigeria in the last five years

He said this has over the years been the core of Kia business operations in Nigeria through capacity development, local manufacturing, and a backward integrated economy.

Wigwe added that the production of cars in Nigeria will drive the value down the chain of production with more car component manufacturers joining in the production of cars which will further boost the economy and create more jobs for the people.

Vice President Yemi Osinbajo was impressed to know that Kia has the capacity to produce 27,000 units of cars per year and reemphasised that the local production of vehicles in Nigeria will further make cars affordable to Nigerians.

On his part, Jacky Hathiramani, managing director/CEO of Kia Nigeria said the company is committed to the development of the nation through the multi-billion investment in local car production.

He said that Kia brand has been repositioned to support the Nigeria dream as a part of its growth commitment.

According to him, the local production of Kia cars will foster the diversification of Nigeria’s economy with a value-driven supply chain and scalable backward integration.

“The automobile industry across the globe has always played a major role in strengthening the global economy by contributing to the growth of the GDP and creation of employment to youths. At Kia, we are committed to helping the economy recover after the devastating effect of the Covid-19 pandemic,” Jacky adds.

He thanked the Vice President for taking a tour of the exhibition stands to interact with brands.

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