Plans are underway to position Nigeria as a major player in the vehicle manufacturing industry, according to the Minister of Industry, Trade and Investment, Doris Uzoka-Anite.
The minister stated this 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 Uzoka-Anite, the automotive industry development plan was drawn to position Nigeria as a fully-fledged vehicle manufacturer within the next 10 years.
She said, “Nigeria has the capacity to produce its own 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, heavy-duty trucks.
“With this plan, we should see Nigeria fully producing its own vehicles within 10 years. Our goal is to reduce the cost of purchasing a vehicle for the average Nigerian.”
On his part, the Director-General of the National Automotive Design and Development Council, Joseph Osanipin stated that the policy proposed to help actualise the plan was a five-year tax holiday for assemblers of vehicles in Nigeria.
He said, “Through such fiscal initiatives, there is a deliberate focus on backward integration and component production.”