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… To enable more citizens acquire new cars
The National Automotive Design and Development Council (NADDC) said it is working to launch a new auto finance fund to enable more Nigerians to acquire new cars and corporate/commercial organisations re-fleet their pool with new vehicles. NADDC said the Fund, which will involve more banks in the country, will assist the Council to fully implement the provision of the National Automotive Industry Development Plan (NAIDP) , popularly known as the Auto Policy, seeking to restrain the importation of used vehicles.
The Director-General of NADDC, Mr. Jelani Aliyu, made this known in Kaduna, Thursday, in a paper he delivered as the Guest of Honour at the First Kaduna Automotive Expo and Stakeholders’ Conference organised by Routes and Roads Transport Company Limited at Assa Pyramid Hotel in the Kaduna State capital, maintaining that the NADDC is focussed on the implementation of the Auto Policy.
Aliyu, who was represented at the conference by Dr. Omisanya, Deputy Director (Research, Design and Development) at NADDC, said the Council had identified some important components of the NAIDP requiring improvement in order to achieve the goals of the policy. He listed the marketing programme, standard, human capital development and local content as other pillars that will make the new Auto Policy sustainable, aside the fiscal regime which places a tariff of 35 percent plus a levy of 35 percent on fully-built cars and an additional 35 percent tariff on fully-built up commercial vehicles.
On the marketing programme, the DG said: “Under this programme, a fund is to be established to be offered to Nigerians at low cost to finance their commercial fleets and cars. The programme is being re-designed to involve more Nigerian banks. It is expected that once this is launched, more Nigerians can afford more new cars and the provision in NAIDP to restrain import of used vehicles will be applied.”
Aliyu disclosed that “the development of automotive laboratories as provided for in the plant for safety tests is now at 70 percent completion stage,” adding “There is the material test lab in Zaria, the component test lab in Enugu and the emission test lab in Lagos.”
Also speaking on human capital, the DG said: “a significant level of achievements has also been recorded in this aspect as NADDC continues to roll out programmes independently and with partners including the Presidency.”
“With the level of achievement in assembly capacity, Council has increased focus on developing capacity to produce components locally. To this end, it has commenced engagement with various state governments,” he explained.
The NAIDP, a 10-year programme, which commenced in October 2013, seeks to turn the country into an auto manufacturing giant.
