The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, has said plans are underway to position Nigeria as a major player in the vehicle manufacturing industry.
This she said on Friday while launching the Nigeria Automotive Industry Development Plan at a gathering that was attended by stakeholders drawn from the private and public sectors.
According to her, the automotive industry development plan was drawn to position Nigeria as a fully-fledged vehicle manufacturer within the next ten years.
She said, “Nigeria can produce its vehicles. We have the raw materials, we have the skills, we have a market, and now we have a plan that can help us produce our vehicles. These vehicles include motorcycles, tricycles, sedans, and heavy-duty trucks.
“With this plan, we should see Nigeria fully producing its vehicles within ten years. We aim to reduce the cost of purchasing a vehicle for the average Nigerian.”
The Director-General of the National Automotive Design and Development Council, Joseph Osanipin, at the same event, also stated that the policy proposed to help actualize the plan was a five-year tax holiday for assemblers of vehicles in Nigeria.
Joseph said, “Through such fiscal initiatives, there is a deliberate focus on backward integration and component production.”
Members of the Automotive Industry Development Plan implementation committee are drawn from the Ministries of Finance, Transport, and Environment and Industry, Trade and Investment.
It also comprises the Nigeria Customs Service, the Manufacturers Association of Nigeria, and the Standards Organisation of Nigeria.
However, despite the policy, the government’s refusal to patronize locally manufactured vehicles, coupled with poor regulations, has constituted an albatross on the neck of the industry.
Currently, the country produces less than 10 percent of the vehicles used in the country
