Electronics Manufacturing Giant, Panasonic, Sets Up Assembling Plant In Nigeria


Japanese multinational electronics corporation, Panasonic, formerly known as Matsushita Electric Industrial Company has grown over the years. The company was founded in 1918 and has become one of the largest Japanese electronics producers alongside Sony, Hitachi, Toshiba and Canon Inc. In addition to electronics, it offers non-electronic products and services such as home renovation services. Panasonic was the world’s fourth largest television manufacturer in 2012 market share and had a total revenue of ¥7.715 trillion in 2015.

Read Also: Oil Price Crashes To $33 As Fear About China’s Economy Grows

With over 200,000 employees worldwide, Panasonic generated ¥325.8 billion income in 2015. The brand also has a primary listing on the Tokyo Stock Exchange and is a constituent of the Nikkei 225 and TOPIX indices.


The electronics giant has recently established an assembly plant in Lagos to complement its manufacturing plant in India. In a statement, Shinichi Wakita, Managing Director of Panasonic, Middle East and Africa, said the company is extending the manufacturing  of its air-conditioners and TV sets to the shores of Nigeria.

He disclosed that the company is making this commitment in partnership with SIMS Nigeria Limited, an electronics and home appliances marketing/distribution company in Lagos.

As a contribution towards the society which is based on our basic business philosophy, we are establishing our local manufacturing unit for air-conditioners and TVs in Lagos. We believe this will make a small contribution towards job creation and the economy of Nigeria. Africa is one of the fastest growing economies with a rising consumer class; setting up this manufacturing base in Nigeria is our strategy to deal with the business challenges in this market. We will be working closely with the Nigerian population with an aim to provide products which are ‘locally-fit’ and in accordance with their demands,” he said.

Andrew Uwazuruike, an electronics dealer, commended the company for its decision to establish their assembly plant in the country.

IMF Chief Visits Nigeria – Is President Buhari Getting A Loan?

This is a welcome development. A lot of people have been making demands for Panasonic products but we don’t really have it in the market. But now that the company has partnered with SIMS for distribution, we are very happy that we can purchase their products and sell them without stress,” he said.

An Oyo-based dealer, Dayo Fagade, described the return of Panasonic as a huge relief that will enable him provide his customers quality products offered by the company. He revealed that he has always recommended the Japanese products to its customers due to their durability, innovation and quality.

Panasonic is a big brand that needs no further introduction. We just want to appeal to Panasonic and SIM to make the products available all across the country, especially at the beginning of the year where people buy more electronic items,” he said.

Also, a consumer in Ikeja, Suliat Farouk said she has always loved Panasonic products because of their easy-to-know features. She urged the company to further consolidate their presence in the country and also make the product available in the North where, according to her, ‘there is a big market for electronic products’.

See Also: Nigerian Refinaries Now Produce 6.7 Million Litres Of Petrol Daily