Toyota set to launch assembly plant in Nigeria, reward customers
As part of effort to expand the Nigerian automobile industry, chairman of Toyota Nigeria Limited, Chief Michael Ade-Ojo has revealed that his organization is set to unveil a Toyota assembly plant in Nigeria before the end of the year According to the chairman who spoke at the firm’s 2015 Toyota Awards in Lagos, the assembly plant is expected to be ready in July.
Ade-Ojo stressed that though the decision was not the wisest for the organisation judging by business parameters, but that it became necessary so as to enable the firmsustain it business.
He said that the brand has come to stay in the Nigeria’s automobile market and that it would never be pushed aside even though the brand has faced “temporary go slow.”
“We are taking measures to make available to you, your loved Toyota models. We have started on an assembly, which, from all business parameters, we were convince that it was not the wisest way to go but we have to sustain our business.” Ade-Ojo maintained.
Commenting on relent developments in the industry, Ade-Ojo stated: “Government has increased duty from 20 to 70 per cent i.e 35 per cent duty and 35 per cent levy.
There is no doubt that this kind of painful addition to the cost, definitely means that less people can afford to buy new vehicles.”
He noted that Toyota Nigeria was not opposed to the new government auto policy, but with it introduction and execution. Ade-Ojo stated further that the high cost of automobiles resulting from the introduction of the new auto policy as well as the exchange rate of the Naira against Dollar was favourable to only selected autombile companies.
“It is like our brand and some other brands have been targeted and others favoured,” he lamented. Ade-ojo however said that the firm would ensure that Toyota is made available to customers in Nigeria, adding that the organisation would not run away from the country.
He mentioned that the company recently introduced the new Yaris, Corolla and Hilux pick up; manual and automatic transmission, as well as the executive version of Hiace with 10 seats amongst other models.
The event also see First Bank Nigeria Plc emerged the Customer of the Year with a star prize of a brand new Toyota Avenza, while the Vanguard Motoring Editor, Theodore Opara, emerged Motoring Journalists of the year with a star prize of Samsung Galaxy S6 phone.
The Department of Petroleum Resources and Access Bank Plc emerged first and second runners-up with cash prize of N2 million and N1.5 million, respectively. Other journalists who were honoured are Mike Ochoma of Business Day and RasheedBisiriyu, emerging first and second runners up respectively.