Lagos – A fund to be offered to Nigerians at low cost to finance their commercial fleets and cars is being planned to be established by the government. The programme which would be launched soon is being designed to involve Nigerian Banks in order for Nigerians to afford more new cars and reduced the importation of used vehicles in the country.
The Director-General of the National Automotive Design and Development Council, Mr. Jelani Aliyu, who disclosed this to the media identified some important components of the new National Automotive Industry Development Plan the council is working to improve the goals of the policy.
According to the DG, aside from the fiscal regime, which places a tariff of 35 percent plus a levy of 35 percent on fully built cars and 35 percent tariff on fully built-up commercial vehicles, other pillars of the NAIDP that will make it sustainable are the marketing programme, standard, human capital development and local content.
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Aliyu said, “The development of automotive laboratories as provided for in the plant for safety tests is now at 70 percent completion stage. There is the material test lab in Zaria, the component test lab in Enugu and the emission test lab in Lagos.” With the level of achievement in assembly capacity, the council has increased focus on developing the capacity to produce components locally. To this end, it has commenced engagement with various state governments.”
