The Nigerian Automotive Design and Development Council has noted that Lanre Shittu Motors and 19 other Automobile companies will be producing 400,000 automobiles from their various Assembly plants following the investment of 500 Billion Naira into the Nigeria Automobile Industry by local and foreign private sector investors.
This much, was made known by the Council’s Chairman, Senator Osita Izunaso alongside other members while visiting the different factories. According to the statement, the companies include, Dangote-SinoTrucks, Innoson, PAN, Cherry, Peugeot, Stallion Group, Hyundai, Honda, Elizade, Lanre Shittu, JAC, Kojo, Nord, Omaa, Vistar, Jet Systems, National Trucks Manufacturers, GAC, Kia, Mikano/Geely.
“These commited companies are now actively producing/assembling vehicles in Nigeria. They have a combined installed capacity to produce over 400,000 vehicles per year. And this capacity is not only made up of fossil fuel powered vehicles: recent developments have seen the start of Electric Vehicles assembly in Nigeria with the Hyundai Kona EV, and the test run of the Jet Systems Electric Van.”
“So, fundamentally, the Nigerian Automotive sector can produce 400,000 vehicles per annum, what the nation needs is Nigerians to buy that number of these locally produced/assembled vehicles instead of spending money on 400,000 second hand imported vehicles that have been used and dumped by other counties.” the statement concluded.378