[dropcap]T[/dropcap]he federal government has said it is poised to accommodating investment from all quarters of the World in order to improve the living conditions of Nigerians.
President Muhammadu Buhari sounded this loud and clear at a meeting with the visiting executives of the Association of Africa Automotive Manufacturers (AAAM) in Abuja, Tuesday.
In a Press Release by Mr. Femi Adesina, Special Adviser to the President on Media and Publicity, Buhari declared that “Nigeria as a country recognized her problems early enough, but remained potential for too long, and so did not achieve much results.”
At the event which took place at the State House, Abuja, President Buhari also said that to reverse the trend, his government “want to avoid the mistakes made in the past by both government and manufacturers” and that his government “is ready to get investment from all quarters, so as to improve the lives of the Nigerian people.”
The President however lamented that “Nigeria failed to develop on the automotive initiatives started in Bauchi, Kaduna and Ibadan, and depended too much on oil as mainstay of her economy” but assured that his government “is making efforts to start the steel industry all over again” that government “see vast opportunities for both the country and those who invest here.”
The chairman of AAAM, Mr. Jeff Nemeth reacting said the Association is comprised of potential investors who are ready to unlock investment potentials on the African continent.
“We are ready to offer strategic partnership with Nigeria. We want to promote investor-friendly regulatory frameworks and sustainable manufacturing.” Nemeth opined and concluded that AAAM “will equally promote infrastructure development, job creation, and skills transfer” in the Nigeria and the continent.
The AAAM chairman however, sought the support of the Presidency in the realization of the vision and mission of the Association.
The AAAM was founded in November 2015 by BMW, Ford, General Motors, Nissan, Toyota, and Volkswagen, to work with African governments to help develop sustainable manufacturing capacity in the automotive industry, and create new manufacturing hubs across the continent. The AAAM delegation expressed its keenness to scale up investments in Nigeria, especially considering the country’s potential as a manufacturing hub for West Africa.
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