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30 car plants to begin production soon

23 July 2014, 18:26

Abuja – 30 vehicle manufacturing plants would soon commence operations in the country.

The Director, Policy and Planning, National Automotive Council Lukman Mahmud made the disclosure in Abuja.

He said the motor assembling companies would come in with complete and semi-knock-down vehicles.

He added that the federal government was working toward facilitating the production of vehicle components at competitive prices through the Nigerian automotive industry and to create employment opportunities.

Mahmud said the idea of Semi-Knock-Down and Complete Knock-Down import was to address the demand from the automobile market due to eventual hike on tariff and levy of imported fairly used cars.

The director said the policy made provision for high patronage from government and Credit Purchase Scheme.

He explained that under the credit purchase scheme, middle class Nigerians would buy cars at affordable prices and pay back within 36 to 46 months and at single digit interest.

He added that modalities were being worked out with all stakeholders in the sector to curtail smuggling of used cars.  

Mahmud said that when stability was achieved and the demand from market met, the manufactures would buy the component parts locally.

"Plans are in top gear to revive the auto glass company in Ibadan, car seat company at Kaduna, Nocaco Auto Wires, exhaust pipes and many more parts and consumable producers in the country,” he said.


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