There has been a recent development in the Nigerian automobile industry.
Honda Motor Company has announced that it is currently building cars in Nigeria by retooling part of its factory that previously made motorcycles.
According to the company’s chief executive, Takahiro Hachigo, operations began this month with plans to produce 1,000 of its Accord Sedans annually at the plant, ThisDay reports. The company also intends on boosting plant production in the future with the growth of the local market as a determinant. There is also the possiblity of it serving other African countries
Honda revised its yearly operating profit which ended March, to 606.88 billion yen ($4.92 billion) from the 651.68 billion yen which was reported in April to account for expanded recall costs.
Source: ThisDay News
