Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
Nairametrics
No Result
View All Result

[Up GEJ?] Ford to start motor assembly in Nigeria

NairametricsbyNairametrics
8 years ago
in Uncategorized
[Up GEJ?] Ford to start motor assembly in Nigeria
Share on FacebookShare on TwitterShare on Linkedin

Perhaps the former president Goodluck Ebele Jonathans (GEJ), administration got the new auto policy right after all.

Ford Motor Company will start assembling its best-selling Ford Ranger pickup truck in Nigeria by the fourth quarter, as it expands in Africa and the Middle East, the U.S. automaker said today.

The Nigerian assembly plant, in partnership with Ford dealer Coscharis Motors Limited, is the first outside South Africa, where Ford produces the Ranger for 148 markets.

“Nigeria is a priority market for us in sub-Saharan Africa,” said Jeff Nemeth, the president and CEO of Ford Motor Company’s business in sub-Saharan Africa.

“Depending on how Nigeria develops over time … we are potentially looking at using our Nigerian plant to service West Africa,” he told Reuters.

The auto market in Africa’s biggest economy has huge potential but retails only a small amount of new vehicles annually, Nemeth said.

He said the sector is dominated by imported used vehicles, while limited financing for consumers to buy new vehicles and the absence of an industrial policy that would encourage suppliers to set up in Nigeria have stunted growth.

The Ikeja plant near Lagos will assemble the Ford Ranger using parts and components imported from South Africa. The plant will have the capacity to assemble up to 5,000 units annually, which will be sold in Nigeria.

Ford produces 85,000 units each year in South Africa, which are sold across 24 African countries.

“It would take between 1 to 2 months to take an order, build it and deliver it within the country. If you order from overseas it would take between 4 to 6 months,” Nemeth said, noting that the benefit of the Nigerian plant was being close to its customers.

Rival automakers, Renault-Nissan, South Korea’s Kia Motors and Germany’s Volkswagen have announced plans to assemble vehicles in Africa’s most populous nation.

 

 

 

Related

Tags: News Review

Leave a Reply Cancel reply

fidelity banner
Press one
Mega Millions
SME
hfm
HFM
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • FG, Lagos move to ease traffic on Kara, Berger-OPIC axis of Lagos-Ibadan express
  • Court orders local government council to pay 5 Ex-Councilors N44 million entitlements  
  • Closing the Gender Gap in Financial Inclusion through Forex Investment and Trading in Nigeria

Follow us on social media:

Recent News

FG, Lagos move to ease traffic on Kara, Berger-OPIC axis of Lagos-Ibadan express

FG, Lagos move to ease traffic on Kara, Berger-OPIC axis of Lagos-Ibadan express

March 23, 2023
Court orders Local government Council to pay 5 Ex-Councilors N44m entitlements  

Court orders local government council to pay 5 Ex-Councilors N44 million entitlements  

March 23, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions
  • 2023 Elections

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections

© 2023 Nairametrics

error: Alert: Content selection is disabled!!