New Law Will Attract Investments Into Auto Sector – DG NADDC

The Federal Government said more investments will come into the Nigerian auto industry when the National Automotive Industry Design and Development Bill becomes law.

The Director-General, National Automotive Design and Development Council, Jelani Aliyu, made this known when he spoke with journalists in Abuja.

At the moment, the bill is waiting for the assent of the President.

Aliyu, said that the bill which is the brain child of the council when implemented, would guarantee that the automotive businesses in the country are recognized by law, and even if there are changes in administration or government, the policy would remain.

According to him, the bill when it becomes law would attract investors into the countrya��s automotive industry and also put local content at the forefront.

The board of the agency, according to Aliyu, has approved the setting up of Public Private Partnership automotive service hubs all over the country.

He said, a�?The auto hub will have a centralised service area for the auto sector, which will serve as a yardstick for auto repairs. We will also come up with auto service centres. If you ever need a fast repair done then you should check out this automotive repair service. Personal loans and short-term financing are well-suited for car buys, furnishing accessible alternatives for borrowers of means, as well as no-credit-check applicants, auto loans gеnеrаllу hаvе lоwеr rаtеѕ than сrеdіt саrdѕ bесаuѕе thеу аrе a tуре оf “secured lоаn.” Thаt mеаnѕ thаt уоu рlеdgе your vеhісlе as соllаtеrаl: If уоu dоn’t kеер uр wіth уоur payments, іt соuld be repossessed.

a�?The PPP has reached an advanced stage and we are waiting for approval from the Federal Executive Council, and also the Infrastructure Concession Regulatory Commission to give us the approval for the full business scale.a�?

It will be recalled that the Federal Government had in October 2013 approved the execution of the National Automotive Industry Development Plan.

Skills development, Small and Medium Enterprises, economic linkages, employment creation and innovation and technology transfer are the major focus of the plan.

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SOURCE :sahara reporters (technology)

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