The
proposed investments in assembly operations by Peugeot Automobiles of Nigeria
(PAN), Innoson Vehicle Manufacturers, VON Nigeria, among other automobile
dealerships in Nigeria, are expected to push up the manufacturing sector’s
contribution to the country’s Gross Domestic Product (GDP), BusinessDay has
learnt.
The
implication of this is that motor vehicles and assembly’s current contribution
of 0.8 percent to the manufacturing sector will increase significantly, going
by the volume of ongoing and proposed investments in the sub-sector.
Consequently,
the manufacturing sector’s current GDP contribution of 9 percent, which
represents about $46 billion of Nigeria’s $510 billion GDP, is also expected to
increase considerably.
