Japanese motor company Yamaha, has opened a new plant in Nigeria’s commercial city Lagos.
Together with French company CFAO, the two firms jointly opened the assembling plant which has the capacity to produce 70,000 motorbikes yearly.
The new plant will also produce out board engines for boats and also power generators in a country that often has blackouts.
The motorcycle market in Nigeria is just over a million new imported bikes annually. So basically Nigeria is equivalent to all the other West African countries in terms of market size.
I was pleased to celebrate with CFAO Yamaha Motor Nigeria Ltd on the occasion of the opening of office premises, showroom and assembly line.— Akinwunmi Ambode (@AkinwunmiAmbode) May 13, 2016
During the opening ceremony it was established that the new plant is because of the country’s potential for economic growth.
“The motorcycle market in Nigeria is just over a million new imported bikes annually, mainly from China, India and Japan. And it represents about half of the entire West African market. So basically Nigeria is equivalent to all the other West African countries in terms of market size, “ said Thomas Gajan, director of motorbikes activities, CFAO.
One of the highlights of the opening was the special display of Yamaha power bikes and Moto GP world champion machine.
“We will manufacture mainly two models. The first is a model intended for commercial use, a motorcycle taxi. The second model is a 110 cm3 scooter, for other consumers, including ladies,” Gajan added.
Yamaha returned to set shop in Africa’ largest economy ten years after seizing its operations. The joint venture with CFAO is founded on business experience and vast distribution network in Nigeria.