Nigerian Govt Seeks Spanish Investment In Auto Component Production

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.

Aliyu made the call on Thursday while speaking as a Panelist at the Nigerian-Spanish 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, 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.

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.