ABUJA-At the ongoing World Economic Forum in Davos, Switzerland, President Goodluck Ebele Jonathan has disclosed that the new automobile policy would enhance rapid development in the Nigeria’s automobile industry.

In a statement issued by his Special Assistant on Media, Dr. Reuben Abati, the President said this at a meeting with the Chief Executive Officer of Nissan Motors, Mr. Carlos Ghosn and representatives of Nissan’s partners in Nigeria on the sidelines of the ongoing World Economic Forum.

 “The only way to reduce the preponderance of second hand cars on our roads is to produce good quality cars with affordable pricing locally,” the statement said.

He added that investors in the local automobile production in Nigeria will have a huge ready market for their products.

“The automobile industry in Nigeria has a huge potential for growth. The market is not just Nigeria, but the entire West African region,” he added.

In his reaction, the Nissan CEO, Mr. Ghosn, acknowledged the Federal Government’s new automotive policy, saying that it would encourage the inflow of investments and technical expertise to boost domestic vehicle production.

He said Nissan Motors plans to roll-out the first made in Nigeria 4 X 4 Utility SUV in April, using the old Volkswagen Assembly plant owned by its partners.

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