President Muhammadu Buhari has lamented that Nigeria failed to develop on automobile initiatives started in Bauchi, Kaduna and Ibadan, and depended too much on oil as mainstay of her economy.
According to him, in a statement issued by his special adviser media, Femi Adesina, Nigeria as a country recognised her problems early enough, but remained potential for too long, and so did not achieve much results.
The President spoke today at State House, Abuja, while receiving Executive Members of Association of Africa Automotive Manufacturers (AAAM), led by the chairman, Jeff Nemeth.
President Buhari said that to reverse the trend, “We must avoid the mistakes made in the past by both government and manufacturers, and we are ready to get investment from all quarters, so that we can improve the lives of our people.”
“We are making efforts to start our steel industry all over again. I see vast opportunities for both the country and those who invest here,” the President said.
Nemeth said the association is comprised of potential investors who are ready to unlock investment potentials on the African continent.
“We are ready to offer strategic partnership with Nigeria. We want to promote investor-friendly regulatory frameworks and sustainable manufacturing.
“We will equally promote infrastructure development, job creation, and skills transfer,” he said.
The AAAM chairman sought the support of the Presidency in the realisation of the vision and mission of the association.