Nigeria auto industry, goldmine, yet untapped — Hathiramani
THE Nigeria automotive industry has the potential for the diversification of the economy with value-driven supply chain and scalable backward integration for the economy. Automotive companies are looking towards the country not only for its burgeoning consumer market but also as an efficient supplier base. Rooted in advanced economies, the auto industry is a major driver for job creation. In the United States, the auto industry supports nearly eight million American jobs, pays $500 billion in annual compensation, and generating $70 billion in personal tax revenue. The auto industry sits atop the industries with the top 10 highest job multipliers in the States. It has also continued to remain a significant anchor of high-value innovation, growth, and inclusive prosperity for global economies.
