Automobile Industry in Nigeria: Potential for Growth (1) - Daily Times Nigerian Newspaper. Nigerian Newspapers Home » Columnist » Automobile Industry in Nigeria: Potential for Growth (1) Automobile Industry in Nigeria: Potential for Growth (1) By: Alabi Wuya Wednesday, 09 Mar 2016 11:18PM Columnist This is a continuation of our series on Nigeria Vision 2020.
CROSS RIVER STATE'S FIRST GARMENT FACTORY. Future bright for local manufacturers. The global economic meltdown has hit Nigeria so hard with the prices of oil at its lowest.
The MD/CEO of VAVA Furniture, Mr. Michael Tawadrous says the current situation presents opportunity for indigenous manufacturing to flourish. He says taxes and levies should be harmonised to make planning easy. NKECHI IGWE met him. Foreigners appear to be undermining local operators in the furniture business? I absolutely don’t think so. Some people accuse foreigners of treating Nigerian workers unfairly. Every time I hear this, I feel disgusted. What is your company’s unique selling point? Vava is unique because we offer the most affordable premium quality furniture in the country. What are your challenges? As the fastest growing furniture company in Nigeria, we have a way of facing every obstacle that confronts us.
Let me use this opportunity to commend the effort of Mr. Though you manufacture here, don’t you think some people still prefer products manufactured abroad? Nigeria can save N11.7bn on tomato paste importation yearly –Industrialists. The Federal Government has been assured of saving up to 11. 7 billion Naira of imports on tomato paste if the local manufacturers are given the right incentives, support and backing to actualize backward integration in tomato paste manufacturing.
The Managing Director of Sonia Food Industries, Mr. Nnamdi Nnodebe, made the disclosure recently when he received the Ogun State Commissioner for Commerce and Industries, Mr. Nigerians Used Scarce Forex to Kill Textile Industry. By Omoh Gabriel In the early 1970's through to the 1990's, the Nigerian industrial horizon was dotted with textile manufacturing industries.
In the Kaduna-Kano axis, one recalls with nostalgia several large textile companies employing thousands of Nigerians. It used to be an intriguing experience to be close to a textile mill. At the close of business, several employees will be trooping out of the premises of a textile company. It was like a market that has sold out all its wares. These textile mills were using local materials that further employed millions of farmers. Nigeria Targets 80% Local Manufacturing in Auto Industry. Nissan Pathfinder: Nissan is one of the car makers that recently started building cars in Nigeria.
Nigeria plans to raise the portion of local manufacturing in the automotive industry to 80 percent by 2023 as Africa’s most populous country seeks to cut imports and diversify the economy away from oil, the industry regulator said. The West African nation currently imports “almost 100 percent” of vehicles, Luqman Mamudu, director of policy and planning for the Abuja-based National Automotive Council, said in an e-mailed response to questions on Tuesday. Developing manufacturing and assembly plants would create jobs and reduce the $9 billion annual cost of bringing in vehicles and components, he said.
Nigeria’s automotive industry shifts into high gear. In late 2013, the administration of then-President Goodluck Jonathan made a bold bet: that it could jumpstart the country’s ailing automotive industry through a comprehensive—and controversial— industrial policy, known as the National Automotive Industry Development Plan (NAIDP).
Although the policy is still young, there are now promising signs that these efforts to revive the once-vibrant industry are starting to pay off—which bodes well for the current administration’s drive to diversify the oil-focused Nigerian economy. Nigeria is certainly no newcomer to the automotive industry: from the 1960s to the late 1980s, a number of private and government-owned vehicle assembly plants operated in the country, but production dwindled down to virtually nothing in the 1990s and 2000s as a result of protracted economic downturn and plummeting oil prices.
The results of this policy are just now starting to show, and they reveal early markers of success. IVM applauded for making parts for Nigerian jet fighters. Innoson Vehicle Manufacturing Company (IVM) has been applauded by the chief of the Air Staff, Air Vice Marshal Sadique Baba Abubakar, for its support to the military.IVM providede technical support that enabled the Nigerian Air Force to sustain its operations against the Boko Haram insurgents.
Innoson is said to have helped to locally modify and overhaul the brake assembly of the MB-339 aircraft for adoption on the Alpha Jets’, help with the continued operation of the Alpha Jets, and had helped to save the day when help was not forthcoming from abroad. Abubakar said that the contribution of Innoson deserves national recognition and an award, because of the important role played by the Alpha Jet in the ongoing counter insurgency operations in North East Nigeria. He added that the collaboration between the NAF and IVM was in line with one of the key drivers of the CAS vision which is strategic partnership with ministries, departments and agencies for enhanced research and development.
Take a Peek Inside Dangote's Largest Cement Plant in Africa. Nigeria: Dangote Begins Construction of New Cement Plants in Edo, Ogun. Dangote Cement Plc has announced the commencement of the construction of new cement plants in two communities in the country.
The new plants are expected to add nine million metric tonnes per annum to the company's current local cement output from 29.25 million metric tonnes per annum (mmtpa) to 38.25 mmtpa The company stated that the communities in which it is setting up the new plants are Okpella in the northern part of Edo State, with a three million per annum plant and another six million per annum capacity plants in Itori, in Ogun State. The Group Managing Director and Chief Executive Officer (CEO), Dangote Cement Plc, Devakumar Edwin, who made the announcement in Lagos, explained that the Okpella plant will be made up of one line and will produce a total of three million metric tonnes per annum, and the Itori plant which will deliver approximately six million tonnes per annum from two production lines. Tomato paste manufacturers urge CBN to relax forex policy.
Economy: More troubles ahead for manufacturers. Last year was arguably the toughest so far for real sector operators, especially manufacturers.
Apart from being hit by the ripple effects of the global economic downturn caused by tumbling oil prices, the year, characterised by hash monetary and trade policies, eroded manufacturers’ productivity and competitiveness. The glitches of last year may have also set the stage for more turbulence for manufacturers this year, going by the government’s policy and utterances in the twilight of the year. CHIKODI OKEREOCHA and OKWY IROEGBU-CHIKEZIE report. It was a year real sector operators would not forget in a hurry. Nigeria: Faw to Produce 1000 Vehicles in Nigeria Yearly.
By Kingsley Jeremiah PERFECTION Motors Company Limited in collaboration with a Chinese automaker, FAW, is targeting to produce 1000 vehicles in Nigeria yearly from its Semi Knock Down (SKD) auto assembly plant in Lagos.
Unveiling the new showroom, workshop and SKD auto plant in Lagos, the General Manager of Perfection Motors Company Limited, Adrian Fourie said: "In view of the fact that we will outgrow this assembly line in the next three years, we will be breaking ground on the future Complete Knock Down (CKD) assembly plant in Ogiju, with construction starting later this year". According to him, Perfection Motors Company Limited is a member of the Lee group in Nigeria is positioning to provide "first class sales, after-sales and spare parts". "FAW being one of China's biggest and most prestigious heavy duty vehicles manufacturers is regarded as the number one selling heavy duty vehicle in China. Forbes Welcome. Epic seals pact with Chiron to build 107,000bpd refinery in Nigeria. CBN policies boosting the local industry, say manufacturers. Members of the Nigerian manufacturing industry say the new Central Bank (CBN) foreign exchange policy is boosting the growth of the local industry, calling it “the game changer”.
Nassos Sidirofagis, deputy managing director, Tempo paper pulp and packing limited, Ota, Ogun state, said the policies have helped increase local production capacity and promote expansion. “The recent CBN policies is helping us tremendously. It is something we’ve been waiting for, not only us, but other manufacturers, because now, customers are now buying Nigerian products instead of importing,” the US trained engineer said. “The policies were quite significant for us; as I said, it was the game changer. We are a truly Nigerian company and we are competing with global players from China, India. Chinese Auto Firm To Set Up Assembly Plant In Calabar.
A Chinese truck manufacturing company, SINO Truck of China, has completed arrangements to establish an assembly plant in Calabar, the Cross River State capital. The company’s Head of African Division, John Wang, disclosed this during a courtesy call to the state governor, Ben Ayade, at his office. According to Wang, the setting up of the assembly plant would be preceded with the establishment of service centres all over the state for all the company’s trucks in Nigeria.
Wang, citing the peaceful investment climate of the state as one of the motivating factors, said that the project would further create job opportunities for the youths in the state. Giving a profile of his company, Wang said “SINO Truck is a state owned company and the number one heavy duty truck manufacturing company in China with over 56 years experience, and a good record in truck manufacturing and assembly”. Olam invests $275m in wheat, pasta milling. Olam Nigeria has announced plans to produce wheat and pasta in Nigeria with an investment about $275 million. The company’s Singapore-based holding company, Olam International Limited has acquired Amber Foods Limited, which through its 100 per cent owned subsidiary, Quintessential Foods Nigeria Limited, owns the wheat milling and pasta manufacturing assets of the BUA Group in Nigeria, for a total enterprise value of $275 million. According to the firm, the new enterprise is estimated at $275 million and hopes to leverage on BUA Group, a diversified foods and infrastructure business group in Nigerian, to actualise the ambition.
The group is among the top five wheat millers in the country with wheat milling and pasta manufacturing capacities of 3,760 and 700 metric tonnes per day (TPD) respectively. Naija247news - Enelama: FG To Partner Abia To Produce ‘Made in Aba’ Military Booths and Paramilitary Wears. The Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, has affirmed that the Federal Government is willing to collaborate with Abia State in areas that would boost trade and investment in order to enhance the economy. The Minister made the affirmation during a visit to the State Governor, Okezie Ikpeazu, at the executive chambers of the Government House, Umuahia, the capital of Abia State on Monday. Governor Ikpeazu had disclosed that the state government has put together strategies and initiatives that would intensify industrialization of some key sectors of the economy but hinted that funding, amongst others, is one of the major impending challenges. According to Governor Ikpeazu, the state is looking in the directions that would boost locally made leather wears and shoes.
He encouraged the Federal Government to allow the state to supply ‘Made in Aba’ military booths and paramilitary wears, hinting that efforts were being made to encourage quality control. Nigeria Goes to the Mall. Photo WARRI, Nigeria — Groups of children wandered inside, wide-eyed at the plenty. Teenagers and adults took selfies and group photos, raving about the convenience, the security, the leisure and, not least, the air-conditioning, so silent, omnipresent and soothing. Some had stepped inside places like this during trips to the United States, Europe or even Nigeria’s biggest city, Lagos, which got its first one just a couple of years ago. Others were “Johnny-Just-Come” first-time visitors, standing confused before sensor-activated doors. They drew smiles from veterans who had already been once or twice to the newest and biggest attraction in this Nigerian city in recent memory: a gleaming shopping mall. “I’m very, very, very excited,” said John Monday, who had traveled nearly 200 miles to visit the mall here on a recent Saturday afternoon, as a friend took a photo of him posing in front of a supermarket.
Nigeria targets 80% local content in auto industry by 2023. Manufacturers call on Agric Minister to rescind ban on raw material. By Nkiruka Nnorom. 2016: Decisive year for Nigeria’s manufacturing. Nigeria automobile sector to contribute 4.5% of 2016 global sales. Nigeria’s automobile sector may contribute at least 4.5 per cent of 2016 global automobile sales as a result of the country’s increased investment in the automobile sector in 2015, which encouraged local production, reports Vanguard.
Factories shut down as Nigeria Govt dithers on export grant - Asoko Insight. Herd to haute couture: Nigeria's luxury goat leather. Haowa Bello has good reason to have a fragrant car. The Nigerian goat farmer and accessories designer often uses her vehicle to deliver livestock to her customers. "I want them to see me," she argues. "I want them to feel they're getting a personal experience. " It's a world away from New York, London and Berlin, but that's where some of Bello's goat skin leather ends up -- as Madame Coquette bags on boutique shelves in some of the world's most fashionable cities.
Bello's business has come a long way. Mega Fertilizer Plant in Nigeria set to be constructed. FG to revive Ajaokuta steel company- Fayemi. The minister of Solid Minerals, Dr. Buhari passionate about completion of Ajaokuta Steel — Fayemi. By Boluwaji Obahopo. Nigeria: 'Agribusiness, Manufacturing to Drive Nigeria's Growth By 2020' By Femi Adekoya BoI, stakeholders seek improved support services to drive growth. Nigeria to establish 40 rice mills with Chinese equipment - Ecofin Agency. Nigeria is most expensive country to buy car in West Africa - Survey. Nigeria tops Africa's online search for saloon cars. Govt’s textile revival effort genuine, says Aremu - The Nation Nigeria. Leventis Motors Completes Auto Plant in Nigeria. Ponmo: Nigeria losing out of $75bn global leather industry. Low-cost devices soar smartphone shipments to Nigeria. RLG receives license from Nigeria’s IT regulator to begin making ICT hardware in the country.
RLG obtains licence for computer, phone manufacturing. Nigeria to establish weapons factory, says President Buhari. Nigeria grants 12 new auto assembly plant licences. NIGERIA: $20 m factory for soybeans production. 470762-nigerian-motorcycles-to-be-produced-en-mass. The Return Of Super Stores In Nigeria. Nigeria to save $400m forex as Candel agrochemical plant comes on stream. 23 automakers establish assembly plants in Nigeria - Homestrings. Could your next new car come from Nigeria? - CNN Video. Nigeria Can Manufacture 25,000 Vehicles In 2015, NAC Maintains. Nigeria commissions US$380mn steel mill in Ogun State. Investors eye Nigeria as global clothing retail may hit $2trn by 2018.
Ogun Overtakes Lagos in Industrialisation. Nigeria Imports 300 Billion Textile Annually - NLC. Nigeria law could usher in billion-dollar steel business. Lagos Eyes More Retail Multinationals With New Malls - The Prepaid Economy: African Edition. Nigeria Offers Best Opportunity for African Retail, RMB Says. Nigeria's fast moving consumer goods industry continues to grow. Manufacturing sector now Nigeria’s major economic growth driver –Rencap - Business, Industry. Nigeria’s economy holds enormous potential for middle class –Patti. Nigeria, world’s 2nd largest market for Unilever. Inside Made in Nigeria Cars. Nigeria to export cars soon - GEJ. What products are Nigerians buying online?
Nigerian retailers fight for online shoppers. Honeywell invests N10bn in new mills. Nigeria overtakes South Africa as biggest cement manufacturer in SSA. Nigeria now producing armoured vehicles. Nissan, Stallion sign Nigeria assembly deal. FG approves establishment of transformer assembly plant in Nigeria - Official. Multi-billion naira meter assembly plant to be set up in Lagos. From luxury spas to street pedicures: two sides to Nigeria's beauty boom. President Jonathan opens first private Car Plant in Nigeria. Nigeria - West Africa’s largest Garment unit to start in August 2013. Sugar: Nigeria attracts N480 billion investment for sugar production. Okomu Oil to build largest mill in Africa - Radar Nigeria.
Nigeria to construct $1.2bn fertilizer plant. Zinox builds assembly plant in Nigeria. Video: Hugo Boss dresses for success in Nigeria. As Middle Class Grows, Global Brands Hit Nigeria. Indorama to build Africa’s largest fertiliser plant in Eleme. Africa Investor - Ai News. Nigeria First Automobile Manufacturer Laments Low Patronage. Young and rich in Nigeria on CNN - GiDi it TV. FG gives tax relief to manufacturers generating own power – Nigeria Rising. Orient Newspaper » FG To Unveil New Cement Policy, Saves N210bn Yearly. Nigeria students PC ownership scheme now underway. Forgo Battery to establish plant in Nigeria. Nigeria: FG Pursues Real Sector Growth Through Steel Development. Nollywood 2.0: how tech is making Africa’s movie industry a global leader. Porsche Center Lagos Nigeria. Nigeria: Dangote - Obajana Cement Plant to be World's Biggest By 2015.