Good news as Buhari government seeks Spanish investment into auto component production in Nigeria

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Spanish companies and groups have been urged to invest in the production of vehicle components in Nigeria

DG of NADDC, Jelani Aliyu, argued that the investors can produce the auto components for both local market and exports to other African countries

He added that Spanish companies could really add significant value to the automotive space in Nigeria

Jelani Aliyu, the director-general, National Automotive Design and Development Council (NADDC) has called on Spanish companies and groups to invest in the production of vehicle components in Nigeria.

In a statement made available to Legit.ng by the council, Aliyu made the call on Thursday, June 2, while speaking as a Panelist at the Nigerian-Spainish Business and Trade Forum in Madrid, Spain.

FG seeks Spanish investment into auto component production in Nigeria
Jelani Aliyu has called on Spanish companies and groups to invest in the production of vehicle components in Nigeria. Photo: John Bimpe
Source: UGC

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According to him, leveraging the Africa Continental Free Trade Area, AfCFTA, the investors will produce the auto components for both local market and exports to other African countries.

While highlighting the opportunities in the local production of automotive components that could be shipped to Spanish and other European automotive assembly plants, Mr Aliyu said:

“Nigeria is ready for innovation and advanced automotive solutions, products and services.”

Aliyu added that Spanish companies could really add significant value to the automotive space in Nigeria.

Recall that President Muhammadu Buhari was in Spain for a three-day State Visit where he met with Spanish political and business leaders.

On Thursday, the President attended a Political and Business Leaders Forum, jointly organised by the Spanish Chamber of Commerce, the Ministry of Trade, and the Confederation of Employers.

At the meeting, the Nigerian leader alerted European countries to look toward Africa for solution to the resources supply challenges currently facing the global economy.

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He also challenged Spanish investors to take advantage of Nigeria’s tax-free environment and limitless expatriate quota at the nation’s Free Trade Zones to boost Nigerian-Spanish trade and economic opportunities.

NADDC to partner UAE firm on solar tractor production in Nigeria

Meanwhile, Aliyu has begun talks with an automobile firm for the production of solar-powered tractors in Nigeria.

Legit.ng gathered that the partnership was signed on the sidelines of the Electric Vehicle Innovation Summit, EVIS, which took place from Monday, May 23 to Wednesday, May 25 in Abu Dhabi, United Arab Emirates.

Aliyu, has begun talks with an automobile firm for the production of solar-powered tractors in Nigeria. Legit.ng gathered that the partnership was signed on the sidelines of the Electric Vehicle Innovation Summit, EVIS, which took place from Monday, May 23 to Wednesday, May 25 in Abu Dhabi, United Arab Emirates.

Source: Legit.ng