Nigeria’s auto industry grossly underutilized – Stallion Group CEO

The Chief Executive Officer of stallion Group, Anant Badjatya said it is high time the federal government turns itrs attention to the automotive industry as the sector’s huge potentials remain underutilized.

Badjatya while addressing newsmen on the impact which border closure at the recently concluded Monetary Policy Committee meeting of the Central Bank of Nigeria in Abuja said the directive to close Nigeria’s border can impact positively on the economy especially in the area of revenue generation.

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“Having only 10,000 new cars imported into Nigeria is an embarrassment, it cannot be only 10,000 cars. Before now about 600,000 new cars were being smuggled into the country through the borders which was fast becoming a huge loss to the economy and employment at large.

“10,000 cars is a two day sale in India, Nigeria can do more better and make about N30bn in this industry monthly. Stallion Group have a very large plant that can do about 200,000- cars every day as we assemble Nissan, Hyundai and different other brands.

“The fact is the automotive sector, manufacturing and the agriculture can generate huge employment and foreign exchange for the country

“The border closure will bring huge gains to the economy especially in the manufacturing sector as the sector has been ignored for quite sometimes,” he said.

He noted that it is a tough decision to close the border as the resultant effect is n now sharp rise in inflation especially rice and other consumables, which is momentarily as the gains are for the future.

He added that with the different brands which the company assembles, it can go a long way in providing gainful employment to Nigerian youths

“We have the largest plant assembly in Nigeria where we assemble different brands and we can do 8 different brands which we assemble and we are ready to offer huge services and ensure people are gainfully employed rather than roaming the street and doing nothing.

“Were also investing highly in the infrastructure of the country because when there is investment in infrastructure, it will go a long way in improving investor confidence,” he added.