• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

      PRNigeria logo fearured image

      EFCC Arraigns Ex-Convict, Other for Naira Abuse in Lagos

      EFCC Arrests 37 Suspected Internet Fraudsters in Ilorin

  • Fact-Check
  • Economy
    • CBN

      The Facts About Nigeria’s Debts Burden Under Tinubu’s Watch By Zekeri…

      Ibrahim Yahaya Dandakata of Arewa Economic Forum AEF

      AEF Slams CBN’s New BDC Policy, Cites Threat to Northern Economy…

      Google Search Tech Digest

      7 Smart Google Search Tips That Will Save You Hours By…

      U.S. VISA

      REVEALED: Why US Reduced Visa Validity for Nigerians to 3 Months…

      Comptroller General Nigerian Customs Bashir Adewale

      Nigeria Customs Takes Anti-Money Laundering Fight to the Skies

  • National
    • PHOTOS: Shettima, Gbajabiamila Arrive London to Bring Buhari’s Body Home for…

      Olusegun Obasanjo and Muhammadu Buhari

      Nigeria Lost Buhari at a Critical Time – Obasanjo Mourns

      Late President Muhammadu Buhari

      Govs Otti, Bago, Adeleke, Ooni, others mourn Muhammadu Buhari

      Ibrahim Badamasi Babangida IBB and Late Muhammadu Buhari

      Full Text of IBB’s Tribute to Late President Muhammadu Buhari

      Late President Muhammadu Buhari

      Tinubu Mourns Buhari, Orders 7 Days of National Mourning, Full State…

    • Government
      • Tinubu Mourns Awujale of Ijebuland, Describes Him as Towering Traditional Ruler

        Olusegun Obasanjo and Muhammadu Buhari

        Nigeria Lost Buhari at a Critical Time – Obasanjo Mourns

        Late President Muhammadu Buhari

        Govs Otti, Bago, Adeleke, Ooni, others mourn Muhammadu Buhari

        DG PBSR Mr Dasuki Arabi awarded Africa Illustrious Award for Exemplary Leadership

        ‎BPSR DG Bags Prestigious Africa Illustrious Award for Exemplary Leadership

        Tinubu Returns to Abuja After Diplomatic Visits to Saint Lucia, Brazil

  • Security
    • Police Raid IPOB/ESN Enclave, Arrest 6 Suspects in Enugu

      NDLEA Logo

      NDLEA Arrests Notorious Drug Kingpin, Uncovers Cocaine, Destroys Over 28,000kg Skunk…

      Bandit banditry

      Lakurawa kills 3 police operatives in Kebbi

      Police Officer

      Niger Police Confirm Arrest of 22 Illegal Miners After Violent Clash

      FG Secures 44 New Convictions in Terrorism Financing Trial

  • Features
    • Fame, Fortune, and Fallout: The Peller Paradox By Haroon Aremu Abiodun

      Officers of NSCDC Mining Marshals

      Alake’s Verdict on Mining Marshals By Abdullahi O Haruna Haruspice

      CBN

      The Facts About Nigeria’s Debts Burden Under Tinubu’s Watch By Zekeri…

      Governor Charles Soludo and Governor Dikko Radda

      Soludo and Radda’s Candid Confessions on Homegrown Terror By Tahir Ahmad

      Nigerian Banks

      Nigeria’s Second Chance at a Global Cashless Future By Fatimah Yusuf…

  • State
    • Tinubu Mourns Awujale of Ijebuland, Describes Him as Towering Traditional Ruler

      Late President Muhammadu Buhari

      Govs Otti, Bago, Adeleke, Ooni, others mourn Muhammadu Buhari

      Police Raid IPOB/ESN Enclave, Arrest 6 Suspects in Enugu

      DG PBSR Mr Dasuki Arabi awarded Africa Illustrious Award for Exemplary Leadership

      ‎BPSR DG Bags Prestigious Africa Illustrious Award for Exemplary Leadership

      Senator Ireti Kingibe

      Senator Ireti Kingibe Defects from Labour Party, Joins ADC

  • Event
    • Alhaji Ibrahim Musa Suleja

      NIPOST Appoints Ibrahim Musa Suleja Director of Corporate Communications

      Asiwaju Adegboyega Solomon Awomolo

      47 Years of Excellence: Honoring Asiwaju Awomolo, SAN

      NCoS inmates

      58 Inmates in Kano Sit for 2025 NECO Exams, Thanks to…

      Troops of the Nigerian Army giving a salute

      162nd Anniversary: Tinubu Salutes Nigerian Army, Hails Troops as Guardians of…

      President & Chairman of Governing Council, Dr. Ike Neliaku

      NIPR Lauds Nigerian PR Firms for Outstanding Performances at 2025 SABRE…

    • PR Nigeria Award
  • E-Paper
Home Anti-Corruption Auto policy: FG, auto players firm up sustained implementation plans
  • Anti-Corruption

Auto policy: FG, auto players firm up sustained implementation plans

By
Bolaji Kazeem
-
March 3, 2015
..as 10 more auto plants spring up
 
The Federal Government, vehicle manufacturers, dealers and licensed Customs agents, among other stakeholders, have agreed to leave no stone unturned in their bid to ensure that the ongoing implementation of the National Automotive Industry Development Plan is sustained in line with global best practices. 
The stakeholders agreed that the sustained implementation of the policy with periodic reviews to suit economic needs was in the interest of Nigerians and the Nigerian economy.
The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, said that the extensive stakeholders’ consultations and collaboration had afforded the Federal Government the opportunity to access the level of progress so far recorded in the implementation of the policy with a view to addressing major challenges  facing players in the sector.
The minister, who spoke after a meeting with members of the National Council of Managing Directors of Licensed Customs Agents in Abuja, yesterday, added that with the level of success so far recorded, 10 more auto plants had finalised plans to begin operations in Nigeria before the end of this year.
Aganga said, “Within the past one week, we have been holding consultative meetings with stakeholders in the automotive industry, including all the vehicle assemblers across the country and the National Council of Managing Directors of Licensed Customs Agents.
“This is to review the current level of the implementation of the National Automotive Industry Development Plan; to assess the level of progress made so far; to understand the challenges facing the players in the sector and what we need to do differently.”
He added, “Since the commencement of the implementation of the policy in July 2014, we have been meeting with all the stakeholders in the auto industry. This is to ensure that we carry everyone along so that we can fast-track the implementation of the policy and achieve the overall objectives of the policy in terms of job creation, industrialisation, local content development and reduction of pressure on our foreign exchange due to massive importation of vehicles into the country.
“Last week, we met with all the vehicle manufacturers/assemblers in the country. On Monday this week, we met with Clearing Agents. Also, we will be meeting with agents/dealers on used cars. This is because we believe that there is the need to consult with all the stakeholders in the auto industry as we go ahead with the implementation of the new auto policy.”
Aganga, who expressed satisfaction with the level of progress made so far with the implementation of the seven-month old auto policy,  said the government and operators in the sector were focusing on local production of vehicle component parts in order to create more jobs and generate wealth for Nigerians.
He said, “From the stakeholders meetings we have held so far, I must say that we are particularly encouraged by the level of interest and enthusiasm being shown towards the new automotive policy by Nigerians and also by Original Equipment Manufacturers (OEMs).
“The bottom line is that everyone is saying that so far, we have exceeded our expectations. If anyone had told us that about 22 OEMS would sign into the new auto policy in less than one year of its implementation, we might not have believed it. Currently, we have about four of them that are assembling vehicles in Nigeria. We are expecting another 10 OEMs to start assembling cars in the country before the end of this year.”
Aganga added, “Together with the major players in the sector, we have discussed and agreed on ways of accelerating the local production of automotive component parts on a product by product basis. Also, we have focused on how to establish an affordable vehicle financing scheme as quickly as possible.
“In this regard, we have already signed a Memorandum of Understanding with WestBank, (the bank that finances one out of every three cars produced in South Africa) to finance the purchase of new cars for Nigerians at a very low interest rate. The bank will commence operation very soon. The whole idea is to make finance available for Nigerians who are buying new cars assembled in Nigeria, with an option to pay back within a period of four to five years.”
VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
Previous articleWe Will Sustain Efforts In Agriculture To Create More Jobs -Yero
Next articleEFCC Arraigns Man for N52.7m Securities Scam
Bolaji Kazeem
Bolaji Kazeem
https://prnigeria.com/

RELATED ARTICLESMORE FROM AUTHOR

Chinese nationals jailed in Lagos

Court Jails Nine Chinese Nationals for Cybercrime in Lagos

ASUU

Tackle Corruption, Institutional Decay – ASUU Charges FG

EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences Kano Make-Up Artist for Naira Abuse

PRNigeria logo fearured image

EFCC Arraigns Ex-Convict, Other for Naira Abuse in Lagos

EFCC Arrests 37 Suspected Internet Fraudsters in Ilorin

EFCC, CCC and the Battle Against Corruption in Nigeria, By Mukhtar Ya’u Madobi

Ola Olukoyede, EFCC Chairman

EFCC’s Anti-Corruption War: Between Media Trial and Intelligence-Driven Operations

Olayiwola Oguntade

Court Sentences Ex JAMB Staff for N10m Fraud in Ibadan

Diezani-Alison-Madueke

Nigeria, US sign MoU to repatriate $53m linked to former oil minister, Diezani

EFCC Sacks 27 Fraudulent Officers for Misconduct

Court Okays EFCC’s Request to Freez 67 Bank Accounts Over Alleged Fraud

Official_JAMB_logo

JAMB, NRC Top ICPC Integrity Ranking

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • PHOTOS: Shettima, Gbajabiamila Arrive London to Bring Buhari’s Body Home for Burial
  • Tinubu Mourns Awujale of Ijebuland, Describes Him as Towering Traditional Ruler
  • Nigeria Lost Buhari at a Critical Time – Obasanjo Mourns
  • Govs Otti, Bago, Adeleke, Ooni, others mourn Muhammadu Buhari
  • Full Text of IBB’s Tribute to Late President Muhammadu Buhari
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
PHOTOS: Shettima, Gbajabiamila Arrive London to Bring Buhari’s Body Home for BurialTinubu Mourns Awujale of Ijebuland, Describes Him as Towering Traditional RulerNigeria Lost Buhari at a Critical Time - Obasanjo MournsGovs Otti, Bago, Adeleke, Ooni, others mourn Muhammadu BuhariFull Text of IBB's Tribute to Late President Muhammadu BuhariTinubu Mourns Buhari, Orders 7 Days of National Mourning, Full State HonoursFame, Fortune, and Fallout: The Peller Paradox By Haroon Aremu AbiodunTinubu Orders Shettima to Accompany Buhari’s Remains Home, Orders Flags at Half-StaffJUST IN: Former President Muhammadu Buhari Passes Away  in LondonNIPOST Appoints Ibrahim Musa Suleja Director of Corporate CommunicationsPolice Raid IPOB/ESN Enclave, Arrest 6 Suspects in EnuguNDLEA Arrests Notorious Drug Kingpin, Uncovers Cocaine, Destroys Over 28,000kg Skunk in Edo Forest‎BPSR DG Bags Prestigious Africa Illustrious Award for Exemplary LeadershipTinubu Returns to Abuja After Diplomatic Visits to Saint Lucia, BrazilSenator Ireti Kingibe Defects from Labour Party, Joins ADC
X whatsapp