Nigeria's new policy on automobiles Thursday received a boost with Japanese automaker, Nissan Motors saying it will begin production of 4x4 Sports Utility Vehicles (SUVs) in Nigeria this April.
Nissan Motors CEO, Mr.Carlos Ghosn who made the revelation at the ongoing World Economic Forum, holding in Davos, Switzerland, during a sideline meeting with President Goodluck Jonathan alongside Nissan's partners in Nigeria, said the made in Nigeria cars will be produced at the old Volkswagen assembly plant owned by its Nigerian partners, located along the Badagry Express Way in Ojo, Lagos State.
Mr.Ghosn, who said that it was possible to produce two to three million cars in Nigeria annually with the consequent creation of thousands of direct and indirect jobs, told the President that Nissan intends to increase its investment in Nigeria and establish its own vehicle production plants in the country.
"We are interested in producing popular cars, totally adapted to the needs of Nigerians," he said, adding that the company also plans to bring its global suppliers to make vehicle components in the country, Ghosn explained according to a release from the Nigerian Presidency.
President Jonathan said that a key objective of the new policy was to make new cars affordable to more Nigerians.
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