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By Moses Akaigwe
The chairman, consultative committee of the Chartered Institute of Bankers of Nigeria (CIBN) 14th Annual Banking & Finance Conference, Mr. Herbert Wigwe, has lauded Kia Nigeria for the significant role it has been playing in the country’s economic diversification.
Wigwe, who is also the Group Managing Director/Chief Executive Officer, Access Bank Plc, made the commendation while guiding Vice-President Yemi Osinbajo on a tour of vehicles exhibited by Kia Nigeria at the annual banking and finance conference held this year in Abuja, as well as the Banker’s House in Lagos and virtually.
He particularly commended Kia for contributing to Nigeria’s industrialisation through its plant in Isolo, Lagos, which makes a range of cars for the local market.
Wigwe said the localisation of car production by manufacturing plants in Nigeria, would help foster the economic development of the country and serve as a springboard for her gross domestic product growth.
The CIBN consultative committee Chairman added that the production of cars in Nigeria would further drive the value down the chain of production with more component manufacturers joining in on the production of cars which would further boost the economy and create more jobs for the people.
Emphasizing job creation and the end-to-end value chain assembly of cars brings to the fore in the economic growth of the country, he expressed the hope that Kia, like every other manufacturing companies, would help bolster the nation’s economic recovery.
The Vice President, Prof. Osinbajo, who was impressed to know that Kia has the capacity to produce 27,000 units of cars per year, also emphasised that the local production of vehicles would further make cars affordable to buyers in the country.
Keying into this year’s conference theme of ‘Economic Recovery, Inclusion And Transformation: The Role Of Banking & Finance’, Kia Nigeria explained in a statement that it joined banks and other financial institutions to demonstrate that one of the sustainable ways for economic transformation is an industrialised economy that is poised for employment creation.
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The statement disclosed that this has over the years been the core of Kia business operations in Nigeria through capacity development, local manufacturing, and a backward integrated economy.
Commenting on the partnership, Managing Director/ CEO of Kia Nigeria, Jacky Hathiramani, remarked that the company is committed to contributing immensely to the development of the nation through the multi-billion investment in local car production.
He further stated, “We have taken our growth commitment to a greater height in Nigeria and repositioned our brand by supporting the Nigeria dream.”
He stressed that the local production of Kia cars would continue to enhance the diversification of the economy with a value-driven supply chain and scalable backward integration for the economy.
Hathiramani further stated: “The automobile industry across the globe has always played a major role in strengthening the global economy by contributing immensely to the growth of the GDP and the creation of employment to teeming youths.
“At Kia, we’re committed to helping the economy recover after the devastating effect of the COVID-19 pandemic.”
He thanked Vice President Yemi Osinbajo for gracing the occasion and particularly taking a tour of the exhibition stands to interact with the brands at the conference.
The Kia Nigeria Managing Director also applauded the laudable efforts of the Governor of the Central Bank, Mr. Godwin Emefiele, and the conference’s Chairman, Mr. Herbert Wigwe, for their doggedness in galvanizing all stakeholders towards the nation’s economic recovery and transformation.
