Lagos govt, Chinese firm sign agreement to produce brand new cars
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Nigeria, March 4 -- The Lagos State government has formally sealed a Joint Venture Agreement with CIG Motors Limited for the establishment of a vehicle assembly plant in the state.
Establishment of the vehicle assembly plant in Lagos was part of the bilateral agreements reached by the state government and Chinese Investors' Community when the governor visited the Asian country in November, 2019.
Governor Babajide Sanwo-Olu said the establishment of the plant was in furtherance of his administration's economic growth blueprint, stressing that the Joint Venture Agreement would revive industrialisation, drive up skilled youth employment, and create wealth, boost tourism, and encourage technology sharing, adaptation, and advancement.
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