The National Automotive Design and Development Council (NADDC) is working towards reviving Nigeria's automobile component parts manufacturing sector to boast the nation's economic fortune.
The Director Genera, NADDC, Joseph Osanipin who disclosed this in Abuja at a familiarization meeting with Commerce and Industry Correspondents Association of Nigeria, CICAN said sector when fully utilise, will address the issue of unemployment as well as create wealth for the country.
He emphasised that the Auto credit scheme which is domiciled in tge Central Bank of Nigeria, CBN, will be made available to only Nigerians who intend to invest on component parts, purchase cars manufactured or assembled in the country to promote made in Nigeria products.
The NADDC boss who also spoke on the level of collaboration between the councils, relevant government agencies and other stakeholders on need to patronise local manufacturers of vehicles in country said the move is yielding positive results.
He however, emphasised that the council is engaging with the National Assembly to make the National Automotive Industry Development Policy a law as its implementation will create an enabling environment for more Foreign Direct Investment
The NADDC helmsman further said the agency is building the capacity of sector players to brace up with the challenges that come with the switching from Petrol Motor Spirit (PMS) and Compressed Natural Gas (CNG) powered vehicles to the new environment friendly cars, the Electric Vehicles, EVs.
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