The policy is significant for local production as well as gaining progress as lots of investors are coming into the nation from over the world
“Enacting the auto approach will reinforce it as well as prevent it from being changed by resulting governments,” Mr Jelani Aliyu, Director-General, National Automotive Design and Development Council (NADDC), said.
Aliyu said while talking soon after examining the recently introduced Honda HR-V into the Nigerian market. As indicated by him, the automotive plan which contains various approach measures aimed at renewing the industry for job creation, local value addition, and technology acquisition has six parts. He recorded the segments to include standards, industrial infrastructure, local content development, skills development, investment advancement and market improvement.
Aliyu said that the council was working closely with the National Assembly to perceive how the policy would become law to prevent policy somersault. “We need to guarantee that the auto approach become law. As you know, the auto policy is a set of fiscal incentives that are intended to support production.”
As indicated by him, the policy is significant for local production. Aliyu said that the council was gaining ground as lots of investors were coming into the nation from over the world, particularly from Japan the heart beat of automotive. On the vehicle finance scheme, he said its implementation would initiate before the end of June. Aliyu said that the council had reached an understanding with three banks that the loans would be given to eligible Nigerians after they must have deposited 10 percent of the expense of the vehicle.
Aliyu said that the loans would be given by the banks to Nigerians at a single digit interest rate of 8 percent. “We are working with three banks to offer vehicle financing and this is the kind of vehicle that we hope will be part of that scheme,” he said. Aliyu said that the Federal Government was urging auto manufacturers to keep on expanding the dimension of their investments in the nation.
