A FRESH move may have commenced to revive the nation’s comatose automobile manufacturing sub-sector, courtesy of renewed interests by foreign investors in the country.

Indeed, some of the investors have already made their plans known to the Federal Government, with series of meetings also scripted to actualise the industry revival agenda.

The meetings and the investors’ overtures were at the behest of a recent favourable assessment of the nation’s automobile market.

The foreign investors were convinced that the time was right for vehicle manufacturing plants and other automobile anciliary industries to be set up in Nigeria, as the country is under the spotlight of many foreign automobiles companies for having driven African market share.

Besides, they considered that the growth of the nation’s economic indices and her high returns on investment was good factors to jumpstart the plan.

Director, Sub-Sahara Africa, Nissan South Africa, Jimmy Dando, at an industry event, stressed that the auto investors were in Abuja to let the Federal Government aware of their move that it would be to the country’s interest for production lines and assembly plants to be set up in the country, to further boost its infrastructure and economic development.

According to him, there was no gainsaying that the Nigeria’s automobile indeed is ripe enough to be revived due to the large population and remarkable returns on investment for businesses.

Dando said the negotiation was strategic for both parties (the government and auto investors) because it was a move to fast track the revival of the nation’s automobile manufacturing sector.

He however added that beside setting up assembly plants, their target was also to bring down the prices of new vehicles to make them affordable for Nigerians.

The Nissan’s helmsman pointed out that for the negotiation meeting to have a positive impact, the Federal Government, as a matter of urgency, must look critically at finding a lasting solution to the grey market by eliminating it, adding that the phenomenon has adversely affected their sales and market share in Nigeria.

He said that allowing influx of used vehicles in the country was not good for the country’s image, considering the size of her population and economic index.

According to him, the meeting is also looking at how government could resolve the issue of duty preferential, especially on used vehicles or spare parts being imported into the country.

Specifically, he said they are discussing with government on how to increase import tariff on used vehicles coming through the land borders and seas, stressing that the present tariff regime where newly vehicles attract higher tariff than used ones is not acceptable anywhere in the world.

“Nigeria has a large population index and there is need for automobile plants in the country because with auto plants, it can drive job creation for the teeming youths. In South Africa, after minning sector, which is the largest employer of labour, the auto manufacturing is the next highest employer of labour. If Nigeria could accept this plan, believe me, it will go along way in sharpening the country’s economic development and her manufacturing sector,” he added.

For Ford’s Regional Sales and Marketing Manager, sub-Saharan Africa, Ezio Tuniz, the Nigerian market share for Ford motors has been phenomenal since its entry into the nation’s auto market some decades ago.

He said that Nigeria accounted for about 40 per cent market share of vehicles sold by the Ford Group, from 2010 to 2011, and eight per cent last year despite the challenges in the nation’s auto industry.

According to him, Nigeria has become the hub of sub-Sahara market because of the amount of vehicles being sold here.

Tuniz said government only need to take proactive measures to eliminate the inherent challenges facing the auto industry.

The challenges, according to him, include licencing, duty payments, cargo delay and port bottlenecks.