Ford invests $15m vehicle assembly plant in Nigeria’s Coscharis Motors


Rasheed Bisiriyu

Coscharis Motors, a subsidiary of Coscharis Group and distributors of Ford automobiles, has unveiled a vehicle assembly plant in Lagos worth over $15m (about N5bn) for the production of the brand.

The President of the Coscharis Group, Mr. Cosmas Maduka, said at a press briefing shortly before the unveiling that the facility was the second Ford plant in Africa, after South Africa and the first ever in Nigeria and the entire Sub-Sahara Africa.

He said, “It has been a long wait from when we first announced in November 2015 that we had commenced physical structuring of the new plant sighted on a piece of land of more than 14 hectares within our Lekki Group head office in Lagos.

“Coscharis Group has been a great believer in the possibilities that lie ahead in this our great nation and we have shown courage by the actions that we are taking in investing in the future of Nigeria.”

Maduka said the initiative would further create value, in response to the call of the Federal Government through the National Automotive Industry Development Plan.

According to him, the NAIDP aims, among other objectives, to discourage the importation of completely built vehicles and encourage the local manufacturing of vehicles through either Complete Knocked Down or Semi Knocked Down facilities for a start.

He added, “This is also to appreciate the confidence that the globally respected iconic brand, Ford, reposes in us as its exclusive official representative in Nigeria to roll out the very first Ford assembly plant in Nigeria.

“This is a capital intensive project, which also involves huge financial, technical and human resources commitment. Therefore, the fact that we have ventured into it headlong underpins the level of confidence and hope we have for the future of the Nigerian automotive industry.”

He said the current focus at the plant was to roll out the Ford Ranger, a multi-purpose mini-truck that serves well for both work and leisure.

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of and also sits on the board of Students In Business Awards, (SIBA).


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