FG signs pact with Volkswagen to boost Nigeria’s automotive hub

Philip Clement

The federal government through the ministry of Trade and Investment have signed a Memorandum of Understanding to make establish an automotive hub in Nigeria

Speaking during the signing of the agreement, trade and Investment minster, Okechukwu Enelamah described the agreement as a major step towards the development of a robust automotive

This, he noted, would enable the sector to achieve its potential of contributing to the development of the Nigerian economy.

“We believe in the strategic and catalytic role of the automotive industry in the diversification of the Nigerian economy and we remain committed to encouraging and partnering relevant stakeholders, especially investors and friends of Nigeria.

”We will meet our commitments and look forward to welcoming other Original Equipment Manufacturers interested in working with us to increase local production, local procurement, and exports.” he added.

Enelamah signed the agreement on behalf of the Federal Government, while Volkswagen’s Head of sub-Saharan Africa, Thomas Schaefer, signed for the group.