Private Sector Invests N500bn In Automotive Industry

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The Director-General (DG), National Automotive Design and Development Council (NADDC), Jelani Aliyu says the private sector has so far invested over N500 billion in the automotive industry.

Aliyu told newsmen in Sokoto on Sunday that they have encouraged, supported, and enabled the private sector to come and put in over half a trillion naira to set up factories and assembly plants across the Country.

The DG spoke to newsmen on the efforts of the council to bolster the local production of vehicles in Nigeria.

Aliyu further stated that in Nigeria there many companies like Dangote’s Sinotrucks, Innoson in Nnewi, Elizade, Lanre Shittu, Honda West Africa, Mikano, Nord, all producing vehicles in the country.

He said that companies and assembly plants in Lagos, Nnewi, Kaduna and Kano. Some are beginning to come up in Bauchi, Kano and Ogun states. Adding that, there are a number of companies actually producing and assembling vehicles in Nigeria.

Aliyu further stated that these companies have a combined capacity of producing up to 400,000 vehicles per year. Noting that they’re not producing 400,000 vehicles per year, because of market challenges.

Aliyu also said that the council is speaking to the bigger companies such as Toyota, Volkswagen and Nissan to come into Nigeria and directly set up their own production plants.

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