In a bid to encourage the purchase of Made-in-Nigeria cars, the Federal Government is putting in place measures that will encourage local local auto manufacturers to produce less expensive models with price range of between N1.2m and N1.5m.
This initiave was contained in a statement issued on Sunday by the National Automotive Council (NAC).
NAC 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.
The new strategy being fostered encourages 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, while high higher-end expensive models will still be imported into the country in the initial stage.
To ensure that the cars produced are of good quality, the statement said NAC was currently building automotive component test centres and laboratories to conduct vehicle homologation and other comprehensive tests of parts and components that would enhance overall product quality.
The statement said, “Under investment promotion, fiscal measures and patronage strategies are being introduced to create enabling environment, allowing existing assembly plants to flourish, while attracting new core investors like Nissan, Renault, GM and Toyota; which had expressed interest, to establish plants in Nigeria.
The Ministry of Industry, Trade and Investment has constituted two committees to ensure seamless implementation of the recently approved automotive plan.