Toyota Assembly Plant Commences Operation In Nigeria In Three Months Time
The Chairman, Toyota Nigeria Limited, Chief Michael Ade-Ojo has said that in the next three months, a Toyota assembly plant will commence operation in Nigeria.
This has thus confirmed a report by The Punch published on July 21, last year, which hinted that Toyota would “start an assembly plant in Nigeria next year (this year) to retain its number one position in the local auto market.”
With this, Toyota has joined the list of 23 local auto companies that have indicated interest in setting up assembly plants in the country after the Federal Government’s announcement of a new automotive policy in September 2013.
The auto policy, which took effect on July 1 2014, had raised the import tariff on fully built cars from 20 per cent to 70 per cent for companies without assembly plants in the country; a zero per cent duty on imported Completely Knocked Down units. The CKD refers to the total number of parts required to assemble a vehicle.
A few months after the policy announcement, Nissan Motor Company of Japan unveiled the first set of Patrol jeeps assembled in its Lagos-based assembly plant and presented to President Goodluck Jonathan in Abuja.
Although Ade-Ojo said the introduction of the new auto policy came without giving everybody in the auto business a fair deal, Toyota Nigeria was determined to remain in business and would continue to give its customers the best.
The TNL chairman, who spoke during the 2015 Toyota Awards in Lagos, expressing appreciation to the customers for making the brand the leader in the auto industry and promised its loyal customers improved services and quality products at affordable rate....Continue
Source: PUNCH Newspaper
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