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Nigeria missing among Africa’s automakers accessing Afrexim $1bn – AfCFTA

Nigeria missing among Africa’s automakers accessing Afrexim $1bn – AfCFTA
Nigeria is not among recognised countries producing vehicles for Africa, the African Continental Free Trade Area (AfCFTA) has said.
Nigeria is therefore missing the benefit of accessing from Afrexim’s $1bn facility meant for automakers in Africa.
Secretary General of AfCFTA, Wamkele Mene, stated this on Tuesday at the Zenith Bank’s international trade seminar, non-oil export in Lagos.
He expressed regret that Nigeria is not one of the African countries currently qualified to access the $1b fund.
Three countries currently benefiting from the fund are South Africa, Egypt and Morocco.
“Our continent produces 900,000 units of passenger vehicles per year between South Africa, Egypt and Morocco and we are 17 per cent of the global population” he stated.
According to him, Nigeria now has a new opportunity to joint the league of recognised automakers with estimated five million vehicles needed in Africa by 2035
Mene said there was a need for Nigeria to take the initiative of diversifying into automobile production to meet the vast gap of Africa’s population.
He said auto sector offers an opportunity to accelerate the diversification of Africa’s economy.
He said, “We have identified a number of priority sectors, which we believe in our studies indicate that these priority sectors will enable the diversification that we all want to see.
“I mentioned the pharmaceutical sector, agriculture and agro-processing, transport and logistics, and the auto sector.
“In the auto sector again, we have an opportunity to accelerate the diversification of Africa’s economy.”
Mene also said, “By the year 2035, our estimates indicate that in order for us to meet domestic demand in Africa we have to produce five million units of vehicles per year.
“That means that for Nigeria, there is an opportunity to include the auto sector in your strategy if it is not there already as your strategy for diversification for production of vehicles, creating jobs driving industrialisation. (This is) because we know that the demand for the auto sector, Africans auto sector is not going to be met by Egypt, Morocco, South Africa.
“We have to have more countries that are producing vehicles for the African continent and creating jobs and innovation and driving industrialisation.”
He recommended that the auto sector be closely looked, noting, “from every unit of investment on the assembly line to produce a vehicle, there are four jobs that are created in the components manufacturing sector, whether it is lithium battery, manufacturing or any other kind of a component.
“So, as we talk about diversification value addition, let us consider the auto sector as one of the enablers for the diversification that we all want to see.
“I am very happy that our development financing institutions have stepped up as Afrexim has provided the facility $1 billion for any country that wishes to start producing vehicles for trade under the AfCFTA.”
The highpoint of the event was the Zenith Bank signing a memorandum of understanding (MoU) with AfCFTA to create an Intra-Africa trade portal known as the SMARTAfCFTA. This is a single portal for trade information for the continent.
The bank will fund the portal for trade information in Africa with one million dollars.
The Group Managing Director Zenith Bank, Ebenezer Onyeagwu, speaking on the MoU signed with AfCFTA said it would bring prosperity to the African continent and the portal to be created by Zenith Bank would foster intra-Africa trade.
“We expect that the implementation of this agenda will change the fortune of not just Nigeria but the whole of Africa.”
He added, “With the development of this portal, one of the capabilities we are going to build into is that you can sit in every part of Africa and market your products and services.
“You can sit in every part of Africa and identify whatever products and services you require that are in Africa.”
Auto
Toyota corporation taps on Winpart by CFAO to distribute CWorks batteries in Nigeria

Toyota corporation taps on Winpart by CFAO to distribute CWorks batteries in Nigeria
Leading distributor and importer of high-quality automotive spare parts and lubricants in Nigeria, Winpart by CFAO, has commenced the distribution of Cworks batteries in Nigeria.
Cworks is a premium automotive battery brand from Toyota Tsusho Corporation.
The battery introduction, the company says, marks a new era of reliability, durability, and high performance for Nigerian motorists and businesses.
The firm in a statement obtained by Newstrends says as an official distributor and importer of top-quality automotive spare parts, Winpart by CFAO has continued to bring globally trusted brands to Nigeria, ensuring that vehicle owners and businesses have access to world-class solutions.
Developed under the renowned Toyota Tsusho Corporation, Cworks batteries are engineered to deliver superior power, a longer lifespan, and consistent performance in all driving conditions.
Winpart by CFAO says CWorks is a product of “renowned Toyota Tsusho excellence, designed to meet global automotive standards; long-lasting performance, built for durability and resilience on Nigerian roads and weather conditions.”
The company disclosing that the batteries are now available through Winpart by CFAO outlets added that the product would facilitate “reliable power supply, ensuring smooth engine starts and sustained power for all vehicle types”.
General Manager of Winpart by CFAO, Mohamed TALEB, said, “We are excited to introduce Cworks batteries to Nigerian motorists. As a brand from Toyota Tsusho Corporation, Cworks battery reflects the same commitment to quality and performance that Toyota is known for worldwide.
“With Winpart by CFAO, Nigerians can now enjoy a battery that delivers reliability, longevity, and value.”
According to the firm, through Winpart by CFAO, Cworks batteries will be available across Nigeria via authorized dealers and service centres, ensuring easy access to high-quality battery solutions.
The company added that more information on CWORKS Batteries, can be obtained from its website- www.winpart.com.ng.
Auto
CFAO subsidiary LOXEA unveils BYD electric vehicles in Nigeria

CFAO subsidiary LOXEA unveils BYD electric vehicles in Nigeria
A subsidiary of CFAO Mobility, LOXEA Nigeria, has introduced the BYD brand of electric vehicles to the Nigerian market.
LOXEA has thus become the pioneer in bringing the renowned electric vehicles (EVs) manufactured by BYD (Build Your Dreams) into the country.
BYD is a high-tech multinational company and the world leader in electric and plug-in hybrid vehicles.
“As a Fortune Global 500 enterprise, BYD relentlessly innovates to create a sustainable future,” said the automaker.
“In November 2024, BYD becomes the first company in the world to achieve the milestone with the roll-off of its 10-millionth NEV.
“BYD achieves 4.27 million new energy vehicle sales in 2024, claiming the global sales champion in the third consecutive year.”
Managing Director of LOXEA Nigeria, Mr. Mehdi Slimani, stated, “We are proud to distribute this type of electric vehicle and all its associated services.
“Our upcoming showroom in Victoria Island, Lagos will be a place dedicated to the discovery of BYD vehicles, combining modernity, comfort, and economy of use. “It is very important for CFAO Mobility in Nigeria to participate in this way in the country’s energy transition and support our customers who wish to make the switch to electric.”
Chief Executive Officer of CFAO Mobility, Marc Hirschfeld, spoke on the importance of this launch for both the company and the country, saying, “BYD is one of the world’s leading manufacturers of electric vehicles, with a level of innovation know-how that now matches the expectations of our markets in Africa.
“A whole new ecosystem has to be designed around mobility in African cities.
“This applies not only to individual and corporate customers, but also to stakeholders including urban public transport networks and government agencies.
LOXEA specialises in providing innovative mobility solutions across Africa.
With a commitment to sustainability and excellence, it delivers high-quality mobility services, from electric vehicle leasing to fleet management and infrastructure support.
LOXEA is a leading player in innovative mobility solutions in Africa, offering clients a range of 100% electric vehicles from BYD.
As a pioneer in the deployment of electric vehicle solutions across the continent, LOXEA is bringing to Nigeria a comprehensive suite of services associated with electric vehicles.
This includes the installation of electric charging stations, vehicle maintenance, repair services, and the provision of spare parts.
In addition to providing an inaugural charging station at the upcoming LOXEA Victoria Island showroom, the company is also offering an adaptable solution that allows customers to charge their EVs conveniently at home.
The company says more information on this can be obtained from its website, https://www.byd.com/ng.
Auto
Lanre Shittu Motors to endow Automobile Department of Lagos Technical College

Lanre Shittu Motors to endow Automobile Department of Lagos Technical College
Lanre Shittu Motors has announced a novel idea that will boost automobile studies in a Lagos technical college.
Specifically, it has pledged to adopt the Automobiles Department of the Government Technical College, Aso-Soba in the Festac area of Lagos.
This is intended to raise academic and practical programme standards of the school.
The company said this would involve adequate funding, in-school training and intensive industrial training (IT) with welfare package to encourage more young people to pursue academic career in automotive engineering.
Business Support/Admin Manager of LSM, Mr Babatunde Adenuga, disclosed this in Lagos, in an interview with journalists.
Adenuga represented the LSM Managing Director, Mr Taiwo Shittu, at the just concluded Engineering Week of the college sponsored by the auto company, where he unveiled the plan to the staff and students at the event’s grand finale.
Aside from the needed financial support to make the auto department functional and standard, he said LSM would provide the tools, overall wears/workshop uniform, among others, as part of the welfare package for the students.
He said it would be a win-win situation for the school and the company.
Adenuga said, “The school will benefit immensely from the LSM package for the department as we take the financial trouble of running the department away from them.
“Students from the department can come for their internship at LSM workshops, and getting jobs after school won’t be difficult.
“For us, it will be a seamless arrangement in getting suitable personnel familiar with our training and business orientation.”
He also said the LSM had been absorbing students from the school and others for their industrial training (IT), providing them with useful hands-on training and monthly stipend to keep them going.
The LSM MD, Taiwo Shittu, commenting on the support, said, “We’ll be part of the progress of the school. We want to own a department in the technical college, the automobile department of studies that will enable us to fund the place; take care of the welfare of students, providing the tools, overall uniform and other facilities.”
“At LSM, we see training the youths as part of our Corporate Social Responsibility. Every year, we take in youths into our facility and train them; even while in training, we give them stipends.”
The highpoint of the LSM-sponsored Government Technical College event was the presentation of prizes to outstanding students in the various competitions held for the Engineering Week.
Three of the students whose projects stood out such as locally produced water pumping machine and water heater went home with impressive cash awards.
Principal of the college, Mr Folarin Sunkanmi, expressed appreciation to LSM for the interest in the school, starting with giving the students the opportunity for industrial training and offering them monthly stipend.
The principal commended the LSM efforts of sponsoring the engineering week’s activities, whose theme was given as ‘Engineering for Sustainable Development (Innovators of tomorrow)’
He urged other companies to emulate the LSM example in order to boost the employability chances of products of the technical colleges and engineering departments of higher institutions in the country.
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