Nigeria as the giant of Africa, has a lot of potential in succeeding to invite foreign expertise to the country. For the best results, a solid and wholly Nigerian company should look forward to capturing at least 50 percent of the market, if there’s right incentive from the government because without government intervention, only little can be done. Apart from funding, that is the challenge. Government needs to encourage businesses to grow in Nigeria.
This is the position of Union Autoparts Manufacturing Company Ltd., a company that manufactures dry charge batteries for automobiles and generators. A solid manufacturing company in Nigeria, the company also produces the plastic components of vehicle traffic lights. The biggest advantage for the company is in manufacturing everything in Nigeria, without bringing in any components from outside the country. Even 90 percent of the raw materials for manufacture are done locally in this company of about 450-strong employees.
It is commendable that nowadays, government is bringing fresh ideas to develop local manufacturing plants and industries. This will give way to Nigeria’s ability to realize its potential as it puts forth effort to discourage unreasonable imports. However, there’s need for government to realize its potential for business in the country more quickly by creating soft loans and long terms loans with the lowest interest rates, while it keeps eyes on making sure that only good quality products are manufactured in Nigeria.