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Auto policy proposed N1.5m price for made-in-Nigeria car

Minister of Industry, Trade and Investment, Dr. Olusegun Aganga recently constituted two standing committees to ensure a seamless implementation of the approved NAIDP.Under market development,…

Minister of Industry, Trade and Investment, Dr. Olusegun Aganga recently constituted two standing committees to ensure a seamless implementation of the approved NAIDP.
Under market development, NAIDP anticipates 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 N1.2 million to N1.5 million, which is affordable to the middle class, coupled with other financial options, according to the new policy.
Issues discussed at the maiden meeting included key progressive targets at each stage of the 10-year NAIDP implementation framework, control of vehicle imports, local contents development, actions to revive the tyre industry, prospects of the automotive industry, measures to moderate initial vehicle price rises, pioneer status incentives, criteria for licensing vehicle dealers, investment incentives, among others.
Members of the committee on the Automotive Industry Policy Implementation and Monitoring Committee drawn from broad-based industry stakeholders including Nigerian Automotive Manufacturers/Assemblers Association, the Automobile Local Content Manufacturers Association (ALCMAN), The Automotive Dealers Group of NACCIMA, Automobile Franchise Holders, amongst others
The second committee is the inter agency Implementation committee made up of representatives from relevant government Ministries, Departments and Agencies (MDAs)
Director General of National Automotive Council (NAC), Engr. Aminu Jalal, represented the minister of industries  addressed the inaugural meetings of the committees.
In the early years, key competences  are expected to be developed for local manufacture of specific good quality parts with emphasis on welded parts, electrical parts, plastic and rubber parts, radiator, tyres, cables, filters, brake pads/linings, windscreens/side glasses, fibre-glass parts, paints, etc.

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