President Goodluck Jonathan has said that the implementation of the new automotive policy would create more direct and indirect jobs across different sectors of the Nigerian economy.
Jonathan said this during the inauguration of Precision Auto Care Centre, an integrated, state-of the art automobile facility owned by Kunech Group, in Lagos, at the weekend.
Jonathan, who was represented by the Minister of Industry, Trade and Investment, Mr Olusegun Aganga, said, “The automotive industry in Nigeria currently employs about 2,500 people, but it expected that the implementation of the new automotive policy will generate more than 700,000 direct and indirect jobs.
The policy will help create jobs in different clusters in the country and across the entire automotive value chain. It will also fast-track the growth and development of other intervening industries such as automotive spare parts, auto servicing, steel industry, rubber, and petrochemicals and plastic industries among others. “In order to industrialize our country, diversify our economy, create jobs and generate wealth for our people, my administration, through the implementation of investment-friendly policies, have been able to attract local and foreign investments and brands from different parts of the world into the critical sectors of the Niger an economy. These ranges from the traditional oil and gas, to mining, agriculture, infrastructure, manufacturing, services, Information and CommunicationsTechnology, among others”. While commending the Kunech Group for investing in Nigeria, the president said that the country had recorded significant progress in the automotive sector since the new auto policy was approved about seven months ago, adding that about 12 companies had already indicated interest in assembling cars in the country.
“The inauguration of this state of the art facility by the Kunech Group, which is the biggest of all the Precision Auto Care Centres in the world, is the manifestation of the perfect blend between local and foreign investment, local industry growth and job creation opportunities. I am particularly delighted at the franchising opportunities and training opportunities that this investment presents .This will benefit our people and create the needed jobs for them. Speaking during the event, the Chairman, Kunech Group, Mr Ugochukwu Nsofor, said that the centre, which boasts the best state-of- the art equipment, would also provide specialized training and skills transfer for Nigerians.
We will ensure that Nigerians are trained by our foreign technical partners so that they can take over from them in the nearest future.