Currently, Nigeria has the capacity and materials to produce made-in-Nigeria cars for local and international use, according to the Federal Government.
Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite stated this at the Automotive Component Manufacturers meeting in Abuja, where she highlighted that the automobile industry is encounter challenges and proffer opportunities.
She emphasized that manufacturers ought to be accountable if the cars aren’t on the roads by December 2024 as the government has facilitated a supportive environment.
Presently, Nigeria manufactures less than 10 percent of the vehicles utilized within the country.
“As far as we are concerned, the auto industry is now set to go.
“We are counting on all stakeholders to make that happen. If we do not produce made-in-Nigeria cars before the end of this year (December), it will be your fault, because I am sitting down here giving you all the assurances that this administration has created the enabling environment to make sure that the auto policy kicks off,” she stated.
In the previous year, Nigeria’s vehicle assembly sector, valued at approximately N302 billion, experienced a significant downturn, primarily attributed to rising production expenses and reduced demand for domestically assembled vehicles.
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