Osinbajo urges automotive industry stakeholders to focus on vehicle financing

According to him, it is impossible to have a successful automotive sector without a robust vehicle financing regime."I think that is an area where we really need to focus our attention on. "The approach I will want to recommend is similar to the Focus Lab that was set up to drive investments in the economy. He noted that the Buhari administration was committed to the advancement of Nigeria's automotive industry as it had demonstrated considerable political will toward the implementation of a new automotive policy. "I think that if we get the individual components right, we should be able to fly with this policy," he added. Advertisement AdvertisementThe leader of the delegation, Mr Thomas Schaefer said the group's visit to Nigeria was to advance discussions on developing the African automotive industry by adopting an African approach.

Brexit causing automotive industry to splutter to a halt like an Austin Allegro

I've been keeping a close eye on how our automotive sector is doing, because anyone with an understanding of business and the economy would appreciate how important the industry is to Britain. But the fact is, Brexit has been battering this very industry and today we're met with even more worrying news. Figures show Britain's car industry investment has dropped by half with major car companies choosing not to invest into their UK factories. For months and months, automotive industry leaders have been switching on the hazard lights, in the emergency refuge area that has become the home of the UK motor trade – all to be ignored by the Government. And so I wonder, will the latest revelations encourage ministers to call for roadside assistance, or leave the automotive sector to splutter to a halt and die like an Austin Allegro.

Benin Auto Park : Obaseki hosts global automotive industry players, assures on incentives

As it stated in …as global brands commit to partnership with Edo govtThe Edo State Governor, Mr. Godwin Obaseki, has assured global automotive industry players, including BMW, Bosch, Toyota, Volkswagen, Ford, Uber, among others, of the state's readiness to provide mouthwatering incentives and other business-friendly policies to enable them set up at the proposed Benin Auto Park, opposite the Benin Industrial Park (BIP). Obaseki gave the assurance at the Edo Automotive Investment Forum, which hosted members of the Africa Association of Automotive Manufacturers (AAAM), at the Government House in Benin City, the Edo State capital. He said the Benin Auto Park will transform Nigeria's automotive industry and help upgrade the used car market, such that more Nigerians would start buying new cars at affordable prices and be assured of top-of-the-range after-sales services. According to him, "the automotive industry is quite critical in South Africa. "We are interested in Nigeria and Edo State and impressed with the proposal for the Benin Auto Park.

collected by :Catlin Logan