Nigeria targets fresh investments in auto sector
The DG National Automotive Design and Development Council, Jelani Aliyu
Abuja, April 28, 2018 (AltAfrika)-The Federal Government of Nigeria is targeting fresh investments in the auto industry through the National Automotive Industry Design and Development Bill.
The bill, which had been passed by the National Assembly is currently awaiting assent of President Muhammadu Buhari.
The Director-General, National Automotive Design and Development Council, Jelani Aliyu, said this during a chat with journalists in Abuja.
He said the bill which was initiated by the council, is expected to ensure that automotive businesses in Nigeria are legalised and don’t suffer policy changes as a result of administrative change of governance and other related issues.
Aliyu said the NAIDP would see more investors in the automotive sector make investment commitments worth billions of dollars.
He also said the bill when signed into law would ensure that more investors come into Nigeria’s automotive sector and deepen investments while also promoting the local content policy of the Federal Government.
He said, “The auto hub would have a centralised service area for the auto sector, which would serve as a yardstick for auto repairs. We would also come up with auto service centres.
“The PPP has reached advanced stage and we are waiting for approval from the Federal Executive Council and also the Infrastructure Concession Regulatory Commission to give us the approval for the full business scale.”
The Federal Government had in October 2013 approved the implementation of the National Automotive Industry Development Plan.
The focal point of the plan is economic development through employment creation, economic linkages, development of the Small, Medium and Micro-Enterprise in the sector, skills, development as well as innovation and technology transfer.