Association Charges Govt On New Auto Policy

The Operation Light-up Rural Nigeria (OLRN) Project launched by President Goodluck Jonathan at Shape Community, FCT, Abuja last Monday.

The Nigerian Automotive Manufacturers Association (NAMA) on Monday described the country’s new auto policy as a catalyst that would help to revamp the country’s economy.
Chairman of the association, Dr Valentine Obi, said this while briefing newsmen in Abuja.
“We have come together as a body of Manufacturers to cooperate in realising the government’s vision in enacting this policy.
“We have set plans in motion to enhance production of locally assembled cars; existing plants are being retooled and new investment is being made to build new plants and to expand existing facilities.
“These investments have been committed, believing the government is resolute in its determination to develop our automobile industry,” Obi said.
“Investors expect that the policy environment will be allowed to thrive for reasonable period, given the huge investments required.
“We have entered into contractual commitments with our partners entailing a substantial increase in investment to realise this vision,” he added.
The chairman said the reversal of the auto policy in any form would send the wrong signals to foreign partners who are prepared to invest in the sector.
He explained that the re-awakening of the sector would bring about skills acquisition and training of local labour, in addition ensuring the creation of jobs for the teeming youths as well as a base for wholesome industrial development.
Obi, however, said that there was the need for the regulatory and oversight agencies to effectively monitor the implementation of the policy to curtail smuggling.
It would be recalled that President Goodluck Jonathan had in November 2013 announced a comprehensive framework for the development of the auto industry.
Jonathan said the policy was aimed at halting about N1.2 trillion spent on importation of various brands of vehicles into the country through the gateways and land borders annually.
A breakdown of the figure shows that about N550 billion worth of vehicles, N500 billion spare parts and N150 billion worth of tyres are brought into the country annually.