American automaker, Ford Motor Company assembled the first Ford Ranger in Nigeria this week in an existing facility with Ford’s Nigerian partners, Coscharis, as announced in August.
This development is part of the company’s move to expand operations in Africa.
The president and chief executive officer (CEO), Ford Motor Company of Sub-Saharan Africa region, Jeff Nemeth, said: “The facility will accommodate one shift and will produce an initial 10 units per day for the Nigerian market, creating approximately 180 direct and indirect jobs; over time, this will gradually expand.
“The main driver behind Ford in Africa is affordability and Africa is one of the youngest markets in the world and presents a huge opportunity in terms of consumption.
“The buying power of the African consumer is on the rise as the continent’s middle class increases exponentially. Despite infrastructure challenges, Africa has demonstrated impressive returns on foreign direct investment.”
Ford’s semi-knockdown (SKD) operation in Nigeria was established in partnership with the local Ford dealer group, Coscharis Motors Limited, and is based in Ikeja, Lagos State, approximately 750km South West of Nigeria’s capital city Abuja.
The president of Coscharis Motors, Dr Cosmas Maduka, said, “We have worked hard and moved quickly to turn this dream into a reality. Today marks an important milestone when the cogs in the wheel really start to turn, not only for Ford in Nigeria but for the Nigerian industry which is receiving a much needed boost towards industrialisation and the development of the automotive industry in general.