The Manufacturers Association of Nigeria (MAN) has applauded the partnership between Dangote, Peugeot-Citroen and five State Governments in automobile manufacturing.
The Director-General of MAN, Mr Segun Ajayi-Kadri, said in an interview with journalists on Monday in Lagos that the partnership would revive the automobile industry in Nigeria.
“If we are able to have more of these partnerships and implement appropriate policies to maintain the resurgence, we will automatically rebuild small-scale industries.
The director-general recalled that many years ago, the automobile sector had recorded 34 per cent success rate in local sourcing of Peugeot parts but that the industry suddenly suffered severe decline.
Ajayi-Kadri described the resuscitation of the sector as a positive development, saying that it would boost the confidence of investors interested in the sector.
The partnership would begin to roll out vehicles next year and that 3,500 units of vehicles would be produced in the first year, to be increased to about 10,000 units later.