American auto maker General Motors - Nigeria has intensified its lobby to ensure that American auto maker General Motors (GM) sets up its proposed West African plant in the country, instead of Ghana. As part of efforts to convince GM to site the proposed plant in Nigeria, the country's authorities are set to come up with a new law that would make patronage of locally-produced vehicles compulsory.
The private Guardian newspaper Tuesday quoted the Minister of Trade and Investment, Mr. Olusegun Aganga, as expressing the desire of the country to host the plant when he hosted visiting GM officials.
He said with the comparative advantage Nigeria has over Ghana, in terms of the huge market, returns on investment and available resources, the country remains the best investment destination in Africa.
“The meeting I held today with officials of General Motors dwelt on their desire to come and set up an automotive plant in West Africa. The choice is whether the plant will come to Nigeria or go to Ghana,” Aganga was quoted as saying.
“But we have held very fruitful discussions with them (GM) that Nigeria is the best place for them to establish the plant given our vast raw materials, a huge market, which is the largest in Africa, and most importantly, the fact that our country has the highest returns on investment,” the minister said.
He also told his guests about the National Automotive Policy, which would give priority to the patronage of vehicles assembled in Nigeria.
Mr. Aganga said the draft law would soon be sent to the decision-making Federal Executive Council for approval.
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