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Kia Receives Commendation for Contributing to Nigeria’s Industrialization, as it Partners 14th CIBN Bankers’ Conference

Kia Nigeria has been commended for its role in industrializing the country, via local automobile production.

The chairman, consultative committee of The Chartered Institute of bankers’ (CIBN) 14th Annual Banking & Finance Conference and GMD/CEO, Access Bank Plc, Mr. Herbert Wigwe made the commendation while on an exhibition tour of the 14th CIBN’s Annual Banking & Finance Conference.

As revealed in a statement released by Kia Nigeria on Wednesday, Wigwe highlighted the significance of Kia Nigeria’s efforts towards economic diversification and Nigeria’s industrialization through local automobile assembly.

Wigwe said: “The localization of car production amongst other manufacturing plants in Nigeria will help foster the economic development of the country and serve as a springboard for her GDP growth.

“Emphasizing job creation and the end-to-end value chain car assembling brings to the fore in the economic growth of Nigeria, Kia like every other manufacturing company will bolster the nation’s economic recovery.

“Production of cars in Nigeria will further drive the value down the chain of production with more car component manufacturers joining in on the production of cars which will further boost the economy and create more jobs for the people.”

Keying into this year’s conference themed:” Economic Recovery, Inclusion and Transformation: The Role Of Banking & Finance”, Kia Nigeria joined banks and other financial institutions in the country to demonstrate that one of the sustainable ways for inclusion and economic transformation is an industrialized economy that’s perfectly poised for employment creation.

“This has over the years been the core of Kia business operations in Nigeria through capacity development, local manufacturing, and a backward integrated economy,” the statement recalled.

The Vice President, Professor Yemi Osinbajo was said to have been impressed about Kia’s capacity to produce 27,000 units of cars per year, stressing that the local production of vehicles in Nigeria will further make cars affordable to teeming Nigerians.

In his remark, Jacky Hathiramani, Managing Director/ CEO of Kia Nigeria expressed his company’s commitment to contributing immensely to the development of the nation through the multi-billion investment in local car production.

“We have taken our growth commitment to a greater height in Nigeria and repositioned our brand by supporting the Nigeria dream,” he pointed out, adding, “The local production of Kia cars will continue to foster the diversification of the economy with a value-driven supply chain and scalable backward integration for the economy.

“The automobile industry across the globe has always played a major role in strengthening the global economy by contributing immensely to the growth of the GDP and the creation of employment to teeming youths. At Kia, we’re committed to helping the economy recover after the devastating effect of the COVID-19 pandemic”.

Hathiramani, who thanked Osinbajo for gracing the occasion and taking a tour of the exhibition stands to interact with the brands at the conference, applauded what he described as the laudable efforts of the Governor of the Central Bank, Mr. Godwin Emefiele, and the conference’s chairman, Wigwe for their doggedness in galvanizing all stakeholders towards the nation’s economic recovery and transformation.

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