In a significant development for Lagos State, Governor Babajide Sanwo-Olu recently inaugurated a state-of-the-art vehicle assembly plant through a partnership between the Lagos State Government and CIG Motors, a Chinese automobile company. The inauguration took place on October 24, 2023, marking a milestone reached two years after the signing of the agreement between both parties for the construction of the plant.
A Boost to Local Vehicle Production
This fully-equipped automobile assembly plant, situated along WEMPCO Road in Lagos’s Ogba area, represents a joint effort to produce various classes of brand-new cars. The establishment of the assembly plant is a result of bilateral agreements made during Governor Sanwo-Olu’s business trip to China in November 2019, where he engaged with the Chinese Investors Community.
Remarkably, even before the formal opening of the plant, it had already successfully assembled 2,000 units of brand-new GAC vehicles. The facility has been built with the capacity to assemble up to 5,000 new vehicles annually in its first phase, and it is expected to create numerous direct and indirect job opportunities.
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A Sign of Progress and Promise
Governor Sanwo-Olu emphasized that this accomplishment showcases the positive outcomes of international partnerships and local expertise. It underscores Lagos’s willingness to attract investments that contribute to job creation, skill development, wealth generation, and entrepreneurial opportunities.
He stated, “The ripple effect of this investment extends far beyond the automotive sector. It has ushered in a new dawn of employment, providing our industrious youths with well-deserved jobs, thereby significantly reducing unemployment in Lagos.” The initiative has not only provided quality transportation options for Lagos residents but also opened up various entrepreneurial avenues.
Reducing Costs and Dependence on Imports
Sanwo-Olu also highlighted the potential to reduce the cost of GAC vehicles in the local market through this plant. The assembly plant follows a Completely Knocked Down (CKD) model and covers an area of 35,000 square meters. The governor explained that although the cars would be assembled locally, they would meet international standards of efficiency. GAC vehicles are known for their comfort, durability, and suitability for Nigerian roads and climate.
The Governor pledged his commitment to further developing the automobile sector through business-friendly regulations, infrastructure provision, and investments in quality technical education to create a world-class workforce. The inauguration of this vehicle assembly plant not only symbolizes progress in the automotive industry but also reflects a promising future for Lagos and its residents.
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