Nigeria’s auto market remains the largest in Africa, and the buying power of her middle class is increasing exponentially thus, presenting a huge opportunity in terms of consumption of auto products. This is despite infrastructure challenges, the President/CEO Sub Saharan African Region, Ford Motor Company, Mr. Jeff Nemeth has said.
He spoke recently in Lagos, on the sideline of the official announcement of the Ford vehicle assembly and unveiling of the first Ford Ranger truck to come off its assembly line in Nigeria. The company’s Semi-knocked Down (SKD) operation in Nigeria was on the strength of its strategic partnership with local Ford dealer group Coscharis Motors Limited. The vehicle assembly line is located in Ikeja, Lagos.
Mr. Nemeth pointed out that about 54 per cent of Nigeria’s 170 million population constitute the working class whose purchasing power is increasing and this was why Ford was committed to increasing its market share in Nigeria and other key African markets in the future.
To underscore its commitment in the Nigerian auto market, the Ford CEO said apart from the facility in Lagos, the company plans to establish two new ones in Calabar and Ekiti in 2016. He said the Lagos facility will accommodate one shift and will produce an initial 10 units per day, while a gradually expansion is being planned over time.