Investors Stake N500bn in Automotive Sector

James Emejo

The Director General, National Automotive Design and Development Council (NADDC) has disclosed that private companies have invested N500 billion in the Nigerian automotive sector.

He said the financing was largely deployed to set up assembly plants.

Aliyu, who said this at the maiden NADDC quiz competition held over the weekend in Abuja, said other things expected of the fund would also be used to set up related factories for production and assemblage of vehicles in the country.

He stressed that the federal government didn’t invest the money but the private companies which had also commenced the assembling of auto gas vehicles.
He said the essence of the quiz, which was in partnership with relevant authorities, was to help develop the automotive sector in terms of promotion of vehicles, transformation of technology and skills upgrading.

The NADDC boss said: “The earlier we engage and support young Nigerians in primary and secondary schools to further understand automotive world and technology, the better we make the good decision to go into that field and study automotive engineering or design management.

“We believe that this is crucial to begin to get the students thinking and read more about it and boost that type of learning in schools, so that they can choose a course in the automotive sector and add value to that industry and for the nation.”

The participating schools in the quiz competition included the Government Secondary School, Kuje , School of the Gifted, Gwagwalada, Pace Setters Academy and Faith Academy in Abuja .

Government Secondary School, Kuje took the first position with 64 1/2 marks, School of the Gifted came second position with 54 marks, while Pace Setters Academy took the third position with 53 marks as well as Faith Academy which took the fourth position with 52 marks.

One of the student, Sanusi Mohammed from GSS, Kuje lauded the NADDC for the competition adding that the competition has increased his knowledge in the automotive line of learning.