Automotive Manufacturers Association of Nigeria AMAN has promised that made-in-Nigeria vehicles will be available in the market before the end of the year.
Chairman, Motor Vehicle Assembly Group of the Manufacturers Association of Nigeria (MAN), Dr Ndubusi Obi, dropped the hint on Monday in Abuja while addressing a press conference on behalf of the automotive manufacturers.
He said the automotive manufacturers in Nigeria had come together as a body to co-operate in realising the government's vision of enacting the Nigerian Auto Policy.
Stressing further that made-in-Nigeria cars would soon flood the Nigerian market, Dr Obi said that the association had set plans in motion to enhance production of locally assembled cars.
He said in order to achieve this target, existing plans were being retooled while new investment was being made to build new plans and expand existing facilities.
"These investments have been committed, believing the government is resolute in its determination to develop our automobile industry. Investors expect this policy environment will be allowed to thrive for a reasonable period, giving the huge investment required" he stated.
Dr Obi also confirmed that the association had entered into contractual commitments with the Overseas Equipment Manufacturers entailing a substantial increase in investment to realise this vision.
Assuring foreign partners that there would not be inconsistency in the policy, Dr Obi said a reversal or variation of the auto policy in any way would send wrong signals to the partners and trigger a withdrawal and loss of confidence in the economy.
On derivable benefits from auto policy, Dr Obi listed them as inflow of foreign direct investment into the auto sector and strengthening of the local auto companies to assemble affordable brand new vehicles for the masses at rates better than the price of second hand cars.
Other benefits of the auto policy are imminent development of the local auto components, skills acquisition and training of local labour and creation of employment for the youth.
- Tribune
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