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Nigeria registers 62 automobile installation companies

Nigeria registers 62 automobile installation companies

The Minister of Industry Trade and Investment, Adebayo Adeniyi says 62 companies have registered in Nigeria to assemble vehicles at both Semi Knocked-Down (SKD) and Completely Knocked-Down (CKD) levels with a total installed capacity of about 423, 790 unit.

Adeniyi who disclosed this at the Parade of Nigeria Produced and Assembled Automobiles in Abuja stated that an actual assemblage of 10,343 unit has been achieved.

He added that 31 automotive assembling companies are currently listed under the Bureau of Public Procurement for patronage by Government Ministries.

According to him, “The Nigerian assembled motor vehicles will also be used for the 2020 Argungu Motor Rally to be flagged off by President Muhammad Buhari at the Eagle Square, the rally though an integral part of the Argungu Annual International Fishing and Cultural Festival, the National Automotive Design and Development Council, NADDC has plans to make it an annual event for the local auto industry in Nigeria”.

The Nigerian Minister of Communication and Digital Economy, Dr Isah Pantami said there is the need to give priority and preference to indigenous technology in the automobile industry.

“Our challenge in Nigeria is not about laws and policies but rather implementation and enforcement, with this I encourage my colleague to use whatever he has at his disposal to ensure that from now henceforth in our federal public institutions we must give preference to our indigenous technology when it comes to automobile”. He added.

Also speaking, the Director General of the National Automotive Design and Development Council, Jelani Aliyu said about 400 billion naira has been invested in production and assembling of automobiles in the country.

“So far at least 4700 people have been employed in the automobile sector, we have also set aside 5 billion naira towards a single digit finance scheme, we are talking very closely with Jaiz, Wema and Zenith Bank to provide a single digit vehicle financing for vehicles made and assembled in Nigeria.

So pretty soon Nigerians will be able to put down 10 percent and drive off with brand new vehicles, the Central Bank of Nigeria and the Ministry of Finance are also willing to increase this to a couple of billions of naira to make it a bigger initiative”.

 

Writer; Jennifer Inah

Date: March 9,2020

Source: von.gov

Photo Credit: von.gov

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