Ford Motor Company has on Tuesday unveiled the first Ranger truck to be assembled in Nigeria.
According to Nigeria’s Nation newspaper report on Wednesday, the truck was built in an existing facility with Ford’s Nigerian partners, Coscharis Group, an indigenous automobile dealer.
It added that the President/CEO of Ford, sub Saharan African Region, Mr. Jeff Nemeth, noted at the official announcement of the Ford Assembly Line in Lagos that Nigeria remains a significant market in Ford’s sub-Saharan Africa (SSA) region and accounts for a high percent of the regional sales.
“It is the reason the automaker is committed to increasing its market share in the country, and other key African markets in the future,” he said.
According to him, Ford’s unified growth strategy for the continent, with the formation of the new Middle East and Africa business unit last year, has also enabled the company to consolidate its efforts in Africa.
The facility, he said, would accommodate one shift and will produce an initial 10 units per day for the market, creating approximately 180 direct and indirect jobs, adding that over time, there will be expansion.
Nemeth said the main driver behind Ford in Africa is affordability.
“Africa is one of the youngest markets in the world and presents a huge opportunity in terms of consumption,” he said, adding that the purchasing power of consumer in the continent is on the rise as the middle class increases.
“Despite infrastructure challenges, Africa has demonstrated impressive returns on Foreign Direct Investment (FDI),” he added.