The CEO of Asper Online Auctioning Company, Saheed Ashogbon, has urged President Bola Tinubu and Lagos State Governor Babajide Sanwo-Olu to collaborate with his firm in launching a $100 million automobile investment initiative in Nigeria.
Speaking at a press briefing in Lagos on Wednesday, the US-based entrepreneur outlined his company’s proposal to assist the government in clearing abandoned vehicles and informal car dealers from roadside areas, aiming to consolidate automotive businesses in designated zones.
Ashogbon emphasized that besides aiding in decongesting roads, the initiative would provide a centralized marketplace where owners of ‘end of life cars’ could efficiently sell their abandoned vehicles. According to him, Asper’s research identified nearly 500,000 instances of indiscriminate parking of abandoned vehicles in Lagos alone.
He revealed that the inspiration for this initiative stemmed from a meeting between Tinubu and a group of business leaders in Atlanta, Georgia, in 2022, where the call for increased investment in Nigeria was made.
An automotive industry expert, Ashogbon highlighted that upon government approval, the venture would significantly contribute to Nigeria’s GDP and generate employment opportunities for 1,500 Nigerian youths.
“Upon launch, we plan to hire 20 youths from each of the 57 local governments and council development areas for various roles,” he stated. The only requirement now is for the government to allocate 50 hectares of land in Badagry, Epe, and Ikorodu to kickstart operations.
