Car Manufacturing: Nigeria to build industrial parks in three states
The government plans a 10-year tax holiday for investors in the automotive industry.
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The Nigerian government is to establish automotive industrial parks in three states to promote local production of vehicles, Jelani Aliyu, the Director General, National Automotive Design and Development Council has said.
Mr Aliyu made this known in an interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja.
According to him, the parks will be sited in Nnewi in Anambra State, home to
Innoson Motors, the first indigenous motor manufacturing firm in Nigeria, Ede in Osun State and Kaduna.
By Joshua Olomu
Abuja, Feb. 9, 2021 Mr Jelani Aliyu, Director General, National Automotive Design and Development Council (NADDC), has announced plans by the Federal Government to launch a Vehicle Finance Scheme that would enable Nigerians own new cars.
He stated this in an interview with newsmen on Tuesday in Abuja.
According to him, the programme is part of the National Automotive Industry Development Plan (NAIDP); a five-point comprehensive programme aimed at promoting local production of vehicles and their parts.
He explained that under the scheme, individuals with sustainable source of income would be able to acquire their choice car by depositing just 10 per cent of the total cost.
Federal Government Vehicle Finance Scheme for Nigerians - How to benefit, eviritin to know
10 February 2021
Wia dis foto come from, @innosonvehicles
Nigeria goment don announce plans to launch one new scheme wey go help kontri pipo buy new cars.
Dem call di scheme Vehicle Finance scheme and na part of di five point comprehensive programme of di National Automotive Industry Development Plan (NAIDP).
Dia plan na to promote local production of vehicles and dia parts.
Dis new scheme according to di National Director-General of the National Automotive Design and Development Council (NADDC), Jelani Aliyu, na for pipo wit sustainable source of income to dey able to acquire di car of dia choice.
•As Nigeria’s automotive policy suffers setback
Reliance on used vehicles is hindering growth of Africa’s automobile market. This is projected to escalate for sub-Saharan Africa (SSA) in the next 15 years, implying that Africa’s demand for vehicles will likely continue to be met by other continents in the foreseeable future.
This was contained in a White Paper, by World Economic Forum (WEF), in collaboration with Deloitte, titled: “Connecting countries and cities for regional value chain Integration,” released on Tuesday.
Trade in used vehicles has variable effects on producers of new vehicles. In low-income countries (LIC), used-car imports often lead to depressed sales and lower prices for new vehicles, while in high-income countries (HIC) the effects may be trivial.
â¢New policy will herald Nigerian-made cars, NECA, LCCI insist
Dike Onwuamaeze
Members of the organised private sector (OPS) have expressed divergent views on the move by the federal government to begin the implementation of the reduction in the import levies on automobiles as contained in the 2020 Finance Act.
The Comptroller-General of the Nigeria Customs Service (NCS), Col. Hameed Ali, had on Tuesday stated that the service would start the implementation next week.
Ali, however, added that the NCS is awaiting official communication from the Ministry of Finance to fully commence the implementation.
According to him, the vehicle tariff reduction is contained in the 2020 Finance Act and initiated by the NCS to ease the cost of transportation in Nigeria.