Foreigners can best develop Nigeria’s automotive industry – Spanish Official

“What the Nigeria’s automotive industry urgently needs is the know-how on getting machinery from abroad”.

While expressing Spanish companies interest in Nigeria’s automotive industry, the Chief Economic and Commercial Counsellor of the Embassy of Spain in Nigeria, Pablo Segrelles, on Wednesday said Nigeria’s automotive industry will best be developed by foreign investments.

“We feel that the best way for Nigeria to develop her automotive industry is to allow investment with other countries,’’ Mr. Segrelles said.

Mr. Segrelles said in Lagos that seven Spanish companies would soon be visiting Nigeria to seek business opportunities with stakeholders in the automotive industry.

“Seven Spanish companies have indicated their interest in doing business with, as well as promote Nigeria’s automotive industry.

“The companies strongly believe that the future of car manufacturing in Nigeria is positive. They see a good business opportunity in Nigeria’s automotive industry.

“What the Nigeria’s automotive industry urgently needs is the know-how on getting machinery from abroad”.

The Spanish official said that the companies were engaged in the production of brake pads, electrical components and other vehicle accessories.

Mr. Segrelles said that the companies and other Spanish investors were prepared to promote the Federal Government’s automotive industry development policies.

He added that the Spanish Government would continue to promote bilateral relations with Nigeria now and in the future.

The Federal Government had in October 2013 approved the Automotive Industry Development Plan aimed at attracting investment to the sector.

(NAN)

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