Yamaha, CFAO move to deepen business interest in Nigeria

One of the leading manufacturers of automobile products in Nigeria Yamaha and CFAO Nigeria, have stressed their commitments to deepen business partnership in the Nigeria automobile industry, stating that the Nigeria market has enormous economic potential for growth.

Speaking at the grand opening of the Yamaha showroom and assembling plant in Lagos at the weekend, the Chairman of the Management Board, CFAO Nigeria Limited, Mr. Richard Levigne, said that CFAO has continued to invest in the Nigeria market due to the current position of Nigeria as the largest economy and its potential to boost growth among other markets in Africa.

He stated that CFAO Nigeria has developed many business activities in the country; stressing that the goal of the company is to always offer the best value for money, while striving to develop their business activities in Nigeria and Africa.

“CFAO is a group whose business is deeply rooted in Africa and has been investing in the continent for more than 160 years. CFAO has a large distribution network with operations in 24 countries. It is a distribution company specialised in automotive and equipment which represents 55percent, pharmaceutical products which represents 35percent of and consumable goods representing five percent,” he noted.

Levigne expressed the company’s resolve to do business in Nigeria and develop new projects despite the harsh economic conditions; adding that developing with Yamaha is one of the most significant projects that CFAO has embarked on, “it is a significant project because Yamaha and CFAO have been partners in West Africa for more than forty years. CFAO is the sole distributor of Yamaha products in 16 Africa countries.”

He added: “It is a significant project for Yamaha and CFAO because over 1million motorcycles are sold each year, the Nigeria market is the largest market amongst our 16 other markets. Therefore, it is a strategic market for both CFAO and Yamaha. It is also a significant project because for the first time the partnership between CFAO and Yamaha has taken the shape of a joint venture which benefits from the strong synergy we have established.

“Motorcycle production in Nigeria with the full support from government will boost economic growth, strengthen industries and create employment opportunities. We are in a market that is highly competitive, but I’m quite confident that we will gradually become a market leader thanks to the good qualities of Yamaha products.”

Also speaking at the event, the Managing Director of Lubcon Limited, Taiye Williams, noted that the company’s partnership with Yamaha as its official blender of its lubricants (Yamalu) is very vital for them, because a company in Nigeria is able to produce the lubricants needed for Yamaha assembled motorcycles and outboard engines.

“This is a huge step for us and it implies capacity building for the company. It will also enable us to raise our standards to the international level,” he noted.


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