Volkswagen To Manufacture Vehicles In Nigeria Again
The Visit of German Chancellor Angela Merkel has brought to Nigeria an automobile manufacturing agreement.
German automobile company that has its plant in Africa, Volkswagen of South Africa, will be coming to Nigeria to establish a manufacturing plant.
This was part of three agreements that were reached at a meeting between Nigeria's President Muhammadu Buhari and the German Chancellor, on Friday.
She has been on a tour of Africa in attempt to build closer ties.
A statement by the spokesman for the president, Garba Shehu, said the "Nigerian government signed a Memorandum of Understanding with Volkswagen of South Africa for the manufacturing of Volkswagen vehicles in Nigeria".
Also Read: What Buhari Told German Chancellor Merkel
Volkswagen had suspended production of vehicles in Nigeria in the late 90s due to some challenges that had power issues at the centre of it.
The new plant when established could become a major competitor to Innoson motors which is already trying to penetrate the Nigerian market.
Innoson is a major supplier of vehicles to Nigeria military.
According to Mr Shehu, Nigeria Incentive-based Risk Sharing System for Agricultural Lending (NIRSAL Plc) also signed a Memorandum of Understanding with Petkus Technologies GMBH for the supply of seed and grain processing machines.
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