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Seals pact with Volkswagen, scripts financing scheme
The National Automotive Design and Development Council (NADDC) has vowed to put a stop to yearly importation of more than 400,000 used vehicles, estimated at $8 billion, as such practice negates efficiency, safety and provide economic backwardness for the nation.
It has therefore, signed a Memorandum of Understanding (MoU) with the Volkswagen conglomerate to begin the manufacturing of vehicles and cars in Nigeria
NADDC was established by Act 83 of 2014, as a parastatal of the Federal Ministry of Industry, Trade and Investment, with the sole aim of creating an enabling environment for the manufacturing of Nigeria made Vehicles of International Standards at competitive prices, using local human and material resources.
In an interactive session with journalists in Abuja, NADDC Managing Director, Jelani Aliyu, affirmed the council’s MoU with Volkswagen conglomerate for the manufacturing of vehicles in Nigeria.
He said the council has also put in place several programmes to discourage the importation of vehicles into the country.
‘’If you watch closely, you will find that the National Automotive Industrial Development Plan (NAIDP) is working closely with NADDC and has started to bring back all vehicle manufacturing companies into the country.
“Today, companies like Innoson Motors, Honda and Peugeot have begun the manufacturing of vehicles in Nigeria, but we still don’t have the number of manufacturers we need,” he said.
He stated that NADDC is working hard to find lasting solution to challenges of infrastructure, stressing: “We are also working with NAIDP to put in place Structured Development plan. We are building three automotive industrial hubs in Kaduna, Osogbo and Nnewi.
“The one at Nnewi is in advance stage with a master plan. We are working with the Bank of Industryand several state governments to have our industrial parks to take care of infrastructure’’.
He pointed out that the council has concluded arrangements to establish Vehicle Financing Scheme that will make it easier for customers to buy vehicles using between five per cent and 10 per cent deposit, while spreading the balance for several years.
On skills acquisition, he explained that over 20,000 youths have already been trained in auto-electronics around the country, stressing that the council is currently working with the Presidency and the N-Power programme to further train another set of 1,200 on meta-electronics.
