Business
NADDC Applauds Private Sector Investment In Auto Industry
The Director-General, of National Automotive Design and Development Council (NADDC), Jelani Aliyu Dogondaji, has commended the private sector for investing over N500 billion in the Nigerian automotive manufacturing industry.
He said the support and encouragement given by his commission has enabled the private sector to invest over half a trillion naira to set up vehicles assembly plants and factories across the country.
The NADDC boss disclosed this to journalists in Sokoto while speaking on efforts made by the NADDC to boost the local production of vehicles in Nigeria.
According to him, companies such as Dangote, Sinotrucks, Innoson, Elizade, Lanre Shittu, Honda West Africa, Mikano and Nord, are currently producing vehicles in the country.
“We also have companies and assembly plants in Lagos, Nnewi, Kaduna and Kano, while some are beginning to come up in Bauchi, Kano and Ogun states.
“these companies have a combined capacity of producing up to 400,000 vehicles per year.
“We are, however, doing a lot to unlock that potential and put a stop to the importation of new and fairly used vehicles into Nigeria.
“As am speaking, there are individuals and companies that believe in the current and future economy of Nigeria, enough to invest this huge amount of money.” He explained.
He said the NADDC is in consultation with other multinational companies such as Toyota, Volkswagen and Nissan to come and directly set up their production plants in Nigeria.
According to him, the council is working to effectively implement an automotive policy agenda, with a view to bringing these companies back to Nigeria.
“When these companies come in, they will invest hundreds of millions of dollars.
“They want to have a guarantee that regardless of whichever government is in power their investments will be protected,” the DG said.
He stated further that the council has also engaged an international firm, KPMG, to review the automotive policy.
This, he explained, “is to make it now in tune with the extant global movement in producing vehicles”.
Dogondaji recalled how in the ’70s and 80s firms like Peugeot, Volkswagen, Anamco and Leyland were producing over 140,000 vehicles per year, but suddenly stopped.
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