Another area the Jonathan government has fared very well is in the stimulation of trade and investments. It takes more than mere rhetoric to attract foreign direct investment to the country at an average of $212,648.58 billion in four years. Nigeria is presently one of the best investment destinations in Africa. Dr. Olusegun Aganga has taken some notable policy initiatives as Minister of Trade and Investment. Nigeria’s Automotive Policy is one of those initiatives and deserves more than a mention in passing.
It is true the likes of Peugeot and Volkswagen have had assembly plants in Nigeria before now but they were in a sorry state. There has however been a revival under the current dispensation. Peugeot, Nissan and Hyundai now either assemble cars, buses and trucks in Nigeria or manufacture them. A Nigerian car manufacturer was hitherto unheard of but now we have Innoson Vehicle Manufacturing Company making cars in Enugu and many Nigerians who live in the East have attested to riding in luxury buses made by Innoson that have already been rolled out for commercial transport. Innoson has also been greatly helped by the revitalized Bank of Industry…
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