Various news sources have revealed that Nigerian automotive industry is in decline the same way as its textile industry.
Like the moribund textile industry or the already comatose solid minerals and mining industry, the nation’s automobile industry is virtually on the edge of a precipice, and waiting for its eventual fall.
Apart from the Peugeot Automobile Nigeria (PAN) Limited (and perhaps the Anambra Motor Manufacturing Company Limited ANAMMCO), all other hitherto known indigenous automobile manufacturing outfits such as Steyr and Volkswagen Nigeria Limited have long died. No one even bothers to talk about them as they now belong to the history books.
Several causes have been identified by experts, the leading one being the inadequate patronage of locally-assembled automobiles; he cited most Nigerians’ inability to afford them as a reason.
Other problems mentioned by experts include poor capital base, high cost of production, poor performance of local content suppliers, poor operating environment, as well as obsolete technology.
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