The National Automotive Design and Development Council (NADDC) has stressed the need for Nigeria’s auto policy to become law.
The Director-General of the council, Jelani Aliyu said this on saturday after inspecting the newly introduced Honda HR-V into the Nigerian market and assured that the council was working closely with the National Assembly to see how the policy would become law to prevent policy somersault.
According to him, the auto policy is a set of fiscal incentives that are designed to boost production adding that the legislating the auto policy will also strengthen it as well as prevent it from being changed by subsequent governments.
Aliyu said the automotive plan which contains a number of policy measures aimed at revitalising the industry for job creation, local value addition, and technology acquisition has six components.
He said the council can provide jobs is to boost industries and support those local and international investors in coming into Nigeria and producing.
According to him, the policy is very important for local production and the council was making progress as lots of investors were coming into the country from across the world, especially from Japan the heart beat of automotive.
Aliyu said that the council had reached an understanding with three banks that the loans would be given to eligible Nigerians after they must have deposited 10 per cent of the cost of the vehicle.
