Honda MD blames stalled auto industry on forex volatility, policy uncertainty

The Managing Director of Honda Nigeria has attributed the stagnation of the automotive industry to ongoing fluctuations in foreign exchange rates and the lack of effective implementation of the automotive policy, which was introduced over ten years ago. He emphasized that these factors have created an unstable environment for manufacturers, hindering growth and investment in the sector. The MD called for more decisive action from the government to stabilize the currency and enforce the automotive policy to revitalize the industry.

Read More