Jelani Aliyu seeks Spanish investment into auto component production in Nigeria

Date:

Share post:

- Advertisement -

The Director General, National Automotive Design and Development Council, NADDC, Jelani Aliyu, has called on Spanish companies and groups to invest in the production of vehicle components in Nigeria.

Mr Aliyu made the call on Thursday while speaking as a Panelist at the Nigerian-Spainish Business and Trade Forum in Madrid, Spain.

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.”

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

“We are looking forward to further in depth discussions with interested companies and how they can come in to be part of this incredible journey that we have started in Nigeria, especially in Vehicle Electrification,” the director-general added.

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.

See also  AfDB to spend additional $2bn on AfCFTA related infrastructure

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. (Vanguard)

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Tariff concession: ‘We do not Tailor policy for any one company’, India tells Elon Musk’s Tesla

Written By Fareha Naaz Piyush Goyal, Commerce and Industry Minister, said on March 10 that India would not tailor...

Elon Musk seeks protection against Chinese cars, says Chinese carmakers will outcompete everyone else on level playing field

Tesla CEO Elon Musk has warned that protectionism is the only thing stopping China’s cheap EVs from...

China EVs: BYD plans US$14 billion investment to develop smart cars, seen as the next battlefield

By Yujie Xue BYD, the world’s largest electric vehicle (EV) maker, will invest 100 billion yuan (US$14 billion) in...

Africa’s new online foreign exchange system will enable cross-border payments in local currencies – what you need to know

By Christopher Adam, University of Oxford The high cost of making cross border payments on the African continent has...