A delegation of investors from Intercontinental Automobiles Limited, Venezuela has paid a fact finding visit to the Headquarters of NADDC in Abuja with a view to setting up a vehicle assembly plant in Nigeria.
The Management team of NADDC led by the Director General, Mr. Jelani Aliyu, MFR, received the delegation led by Mr. Rodolfo Revanales, Business Planning Manager of Intercontinental Automobiles.
Mr. Rodolfo Renanales said Intercontinental Automobiles decided to invest in the automotive industry in Nigeria because of the country’s huge market and the generous fiscal incentives contained in the National Automotive Policy.
He said the company had opened discussions with two Nigerian partners while efforts were in progress to acquire land for the setting up of the Nigerian plant.
According to him, Intercontinental Automobile had a complete assembly plant machinery in Venezuela waiting to be shipped to Nigeria as soon as necessary preparatory formalities were concluded with the Nigerian government officials and business partners.
Responding, the NADDC boss was delighted to welcome his guests to Nigeria especially especially with their determination to invest in the automotive industry; adding that NADDC was currently reaching out to numerous credible auto manufacturers and OEMs across the globe to come and invest in Nigeria.
He renewed the Council’s commitment to supporting both local and foreign investors in the automotive industry as a strategy to creating increasing employment opportunities for Nigeria’s huge population.
“In NADDC, our key mandate is to support local production as against importation of FBUs from oversees. We were in South Africa recently for a meeting with NAACAM, a consortium of component manufacturers. They are going to identify some components that are very marketable in Nigeria not just for new vehicles but also to feed the after sales market. They are interested to come and produce here in Nigeria.” He explained.
Mr. Jelani Aliyu said Nigeria presently needed vehicle plants that would produce efficient but inexpensive small cars for the middle class and not-so-rich people.