The Federal Government, in a bid to ensure the successful implementation
of its recently approved National Automotive Industry Development Plan,
said it would encourage local auto manufacturers to produce less
expensive models with price range of between N1.2m and N1.5m.
It
also said it would collaborate with auto manufacturers, franchise
holders, reputable motor dealers and selected banks to put in place an
all-inclusive domestic dealership network through which a user-friendly
vehicle purchase scheme could be funded by the National Automotive
Council.
These are contained in a statement issued on Sunday by the NAC in Abuja.
The
statement said, “Under market development, the NAIDP anticipated that
higher-end expensive models will still be imported into the country in
the initial stage, but the new strategy is to encourage local auto
manufacturers to focus primarily on lower-end less expensive models with
price range of between N1.2m and N1.5m; which is affordable to the
middle class, coupled with other finance options.”
The statement
added that the Minister of Industry, Trade and Investment, Mr. Olusegun
Aganga, had constituted two committees to ensure seamless implementation
of the recently approved automotive plan.
The first is the
Automotive Industry Policy Implementation and Monitoring Committee, with