Business

Chinese Manufacturer Lists Impediments To Nigeria’s Auto Industry

Published

3 years ago

March 23, 2023

Editor

The Chairman of CIG Motors Co. Limited, Chief Diana Chen, has said lack of stable electricity supply, and insecurity are among the hurdles militating against effective operation of the automobile assembly plants in Nigeria.

Chen disclosed this on Tuesday at the official opening of Guangzhou Automobile Group Motor Abuja G-Style Showroom and the unveiling of all new GS8 premium SUV in Abuja.

“Power stability is one challenge. Without stable electricity supply, it is difficult to have manufacturing here. Another one is security issue,” she said.

She urged the incoming government to tackle security issues with all sense of urgency, stressing that GAC Motor is willing and ready to work with government at all levels to rebuild the capabilities of the youth population towards becoming well trained, skilled, and technical people especially in the area of automobile industry.

According to her, Nigeria boasts of great potentials both in the economic and auto market growth across Africa.

Chen further implored the Federal Government to develop policies that encourage Nigerians to purchase brand new vehicles rather than the current reliance on imported fairly used ones, noting that such a policy would boost investment in assembling plants that would in turn create jobs and wealth for the country.

She disclosed that the company was already in partnership with four banks in the country that allows customers to purchase its cars while paying back in monthly installments.

“GAC Motor Nigeria is committed to building and developing the future of the automobile industry in Nigeria, and believes that collaboration with the Federal Government is key to achieving this goal,” she stated.

Chen also assured Nigerians of GAC’s commitment to supporting Nigeria’s football national teams and the creative sector.

Speaking at the event which was attended by the President of the Nigerian Football Federation, Ibrahim Gusau, thanked the motor company for supporting Nigerian football teams.

Super Eagles star players in attendance include Ahmed Musa, Wilfred Ndidi, Kenneth Omeruo and Alex Iwobi.

Speaking on the brand new GS8 SUV, the General Manager Commercial, CIG Motors, Mr. Jubril Arogundade, said the vehicle was made for Nigerian roads.

“The brand new GS8 is a premium SUV that was created with the intent of meeting the high-luxury requirements of business leaders on a budget. With its luxurious cabin space covered in Alcantara and leather of the highest quality, geometric facet design, roaring Euro 6 engine power, and diversified luxury interior and exterior upgrade, the car is sure to take your breath away,” he added.

Business

Why We Sited Our Multi-Billion Naira Automobile Firm Branch in Benin – Skyewise Group CEO

Published

2 days ago

May 4, 2026

Editor

Dr. Elvis Abuyere, Chief Executive Officer and Managing Director of Skyewise Group, an automobile firm, has explained the reason for establishing a branch of the company in Benin City, the Edo State capital, describing the ancient city as “a growing economy full of enormous potential for vibrant youth.”

He added that the company considers Edo State one of the most interesting states, noting that the decision aligns with its long-term vision.

Abuyere, who spoke in Benin on Monday while taking journalists on a tour of the new automobile facility, said:
“We started very small — from Abuja to Lagos and now Benin. It is a joy and privilege for us to have completed this amazing regional office with Skyewise Group.”

According to him, beyond the automobile business, Skyewise Group is in Benin to invest in real estate, logistics, youth empowerment, and credit management. “Aand also to lend our support to what the Edo State Government is doing, knowing the fact that there is an agenda,” he added.

The young CEO urged youths in Nigeria, particularly those in Edo State, to embrace entrepreneurship, stressing that “we believe it is the future of Africa,” especially Nigeria.

He said Nigeria stands as the giant of Africa and that its youth must take bold steps in the entrepreneurship landscape.

According to Abuyere, to ensure Edo youths actualise their entrepreneurial potential, the company has prepared soft loans to help them start businesses, adding that Skyewise Group is not limited to automobile operations.

He said: “More importantly to us is youth empowerment. We want our youth to be empowered, and this is where the Skyewise Foundation comes in.

“We believe the future of Africa is entrepreneurship, and that future lies in the hands of the young people of Nigeria. We want to empower them to stand the test of time, build something meaningful, and reduce unemployment and insecurity in our land.

“I believe we need to begin taking bold steps by refining the mindset of our young people. We need to give them a sense of belonging and direction.

“We have been addressing the liquidity gap in society by providing microloans to support businesses in our environment and in Benin City.”

When asked why he chose Benin City for the multi-billion naira automobile firm, Abuyere noted: “I think this is the first automobile showroom in Edo State where you can see a car lifted from the ground floor to the first floor and beyond.”

Business

JUST IN: Nigerian Filling Stations Reduce Fuel Price After Hike

Published

4 days ago

May 2, 2026

Editor

Nigerian filling stations reduced their Premium Motor Spirit price on Saturday, barely 24 hours after the hike.

Checks by DAILY POST showed that Ranoil, Empire Energy, and other filling stations in Abuja adjusted their petrol pumps to N1,365 and N1,375 per litre respectively, down from N1,440 per litre on Friday.

This means that petroleum marketers dropped their fuel price by N65 and N75 per litre. DAILY POST reports that the move was to attract patronage from customers.

Recall that three days ago, Nigerian filling stations had raised their petrol pump price to between N1,365 and N1,440 nationwide after Dangote Refinery and depot owners increased ex-depot prices to around N1,275 and N1,290 per litre.

According to DAILY POST, while the Nigerian National Petroleum Company Limited and MRS Bovas filling stations raised their petrol price to around N1,365 per litre, others adjusted theirs above N1,440 per litre.

However, with the latest fuel price reduction by Ranoil and Empire Energy, the majority of filling station outlets now dispense petrol between N1,365 and N1,375 per litre.

This development comes as the ripple effect of crude oil prices continues to impact Nigeria’s domestic fuel price.

Brent and West Texas Intermediate crude rose to $114 and $105 per barrel before dropping to $108 and $101 after the filing of this report.

Business

Dangote Refinery Hikes Petrol Price

Published

7 days ago

April 29, 2026

Editor

Dangote Refinery has increased the ex-depot price of petrol by N75.

The refinery announced the increase on Wednesday, hiking the the price from N1,200 to N1,275 per litre.
In the same way, coastal prices have gone up to N1,215 per litre.

This adjustment amid Brent crude trading at $114.80 per barrel marks a 3.15% increase.

DAILY POST reports that Brent crude has increased to $115 per barrel, while West Texas Intermediate rose to $103 per barrel on Wednesday.