international auto show opens in nigerias economic hub
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

International auto show opens in Nigeria's economic hub

Egypt Today, egypt today

Egypt Today, egypt today International auto show opens in Nigeria's economic hub

The 11th Lagos International Automobile Exhibition
Lagos - XINHUA

The 11th Lagos International Automobile Exhibition opened since Thursday, featuring the participation of all major car brands.

Up to 100 new car models were displayed in the auto show, which attracted auto businesses from countries such as Germany, the United States, Japan, India, China, France and Nigeria.

Chinese automaker Beiqi Foton Nigeria's Manager Feng Baoquan told Xinhua that his firm integrates leading global technologies to manufacture vehicles that meet world standards.

He said Foton's partner in Nigeria, Leventis Motors has an assembly plant in southwest city of Ibadan and can assemble Foton vehicles up to 1, 000 capacity.

"We help them to train the local workers in various areas," he added.

The company's Brand Manager, Temitope Falode, who spoke on the characteristics of the models, said Chinese brands are increasingly being recognized by Nigerian consumers.

On his part, a spokesperson for Peugeot Automobile Nigeria Limited (PAN) Nura Idris Maska told Xinhua that the company came to the fair to showcase the locally assembled automobiles assembled in the PAN northern Kaduna plant.

He said the nation's automobile industry had the potential to generate over thousands of jobs opportunities.

The exhibition, which is to run until May 4, features environmental awareness, advanced technology and fashion in the auto industry, the organizers said.

Initiated in 2005, the Lagos International Automobile Exhibition has become an important platform for world's leading automakers to tap the markets of Nigeria, Africa's most populous nation.

Nigeria plans to raise the portion of local manufacturing in the automotive industry to 80 percent by 2023 as the country seeks to cut imports and diversify the economy away from oil.

The West African nation plans to assemble 500,000 vehicles per year over the next five years, compared with 10,000 units in 2014, after awarding 36 companies a production license.

President Muhammadu Buhari has pledged to diversify the nation's oil-dependent economy, which has suffered as crude prices plunged by more than 50 percent since June last year.

Nigeria will allow car producers to import two fully-built units at a discount duty of 35 percent for cars and 20 percent for commercial vehicles for every one built locally.

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

international auto show opens in nigerias economic hub international auto show opens in nigerias economic hub



GMT 08:31 2018 Monday ,22 January

West's 'Russiaphobia' worse than

GMT 12:40 2017 Thursday ,06 April

As streaming booms, songs getting faster

GMT 01:25 2011 Friday ,25 November

Giant volcanoes in Chile\'s wild Atacama

GMT 01:55 2017 Friday ,21 April

Unveils giant restored statue of Ramses II

GMT 13:53 2012 Monday ,16 January

Will Saleh’s men compromise his exit strategy?

GMT 17:38 2011 Monday ,09 May

10 of the best places for summer holidays

GMT 13:36 2015 Tuesday ,25 August

Lion kills guide in Zimbabwe park where Cecil lived

GMT 08:24 2016 Tuesday ,15 November

Berlin wild charms make it first choice

GMT 10:45 2012 Thursday ,19 July

ProSiebenSat.1 plans online TV channel

GMT 06:05 2012 Tuesday ,14 August

Memory, learning power unaffected

GMT 13:26 2017 Tuesday ,25 July

Nasr: lure dlrs 30 bn in investments in SCZone

GMT 13:58 2012 Tuesday ,07 February

Upstaged Bastakiya fights to regain place in Dubai
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday