‘ New Auto Policy Will Unleash Inflow of Investments into Nigeria’
The Director General, National Automotive Design and Development Council, (NADDC), Jelani Aliyu, has said that the National Automotive Industry Development Plan (NAIDP), otherwise called the Nigerian auto policy, would increase the flow of investments for the development of the automotive industry.
Aliyu, who spoke at the opening session of the Abuja International Motor Fair, in Abuja, assured that the bill for legislation of NAIDP into an Act was being reviewed to make it more comprehensive, all encompassing, robust and effective will soon to be enacted into law.
Represented by the Director, Industrial Infrastructure Department of NADDC, Dr. Nua Omisanya, Aliyu said the new auto policy will ensure the designation of automotive clusters in Lagos/Ogun, Kaduna/Kano and Anambra/Enugu axis for local components development.
He added that the new policy will encourage government’s patronage of products of local assembly plants as well as operation of vehicle purchase schemes, among others.
“It is with immense joy that it is being organised to boost investments in the auto sector and moulded at the automotive development policy. The show is an arena of enlightenment. The NAIDP otherwise called the Nigerian auto policy, is still in effect. It has not stopped nor changed but soon to be enacted into law.
“The bill for legislation of NAIDP into an Act of Parliament is being reviewed to make it more comprehensive, all encompassing, robust and effective towards achieving sustainable growth and development of the automotive industry in Nigeria within the shortest possible time,” he stated.
Also in his remarks, Chairman, Local Organising Committee of the annual Abuja Motor Fair, Ifeanyi Agwu called for special support from the three tiers of government to ensure the revival of Nigeria’s automotive industry in the country.
Agwu, who is also the Managing Director of BKG Exhibitions Limited, lamented that the sector is in the league of the most poorly regulated in the Nigerian economy, hence the seemingly intractable challenges that have been its lot over the years.