The Managing Director of the 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, by taking advantage of the African Continental Free Trade Area, the AfCFTA, investors will produce the automotive components for the local market and export to other African countries.
While highlighting opportunities in the local production of automotive components that could be shipped to Spanish and 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 look forward to further discussions with interested companies and how they can participate in this incredible journey that we have started in Nigeria, especially in vehicle electrification,” added the Managing Director.
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 forum of political and business leaders, organized jointly by the Spanish Chamber of Commerce, the Ministry of Commerce and the Confederation of Employers.
During the meeting, the Nigerian leader alerted European countries to look to Africa for a solution to the resource supply challenges currently facing the global economy.
He also challenged Spanish investors to take advantage of Nigeria’s tax-exempt environment and unlimited quota of expatriates in the country’s free trade zones to boost Nigerian-Spanish trade and economic opportunities.