Minister: Nigeria can produce its vehicles within 10 years

Nigerian Minister of Industry, Trade, and Investment Doris Uzoka-Anite has said that Nigeria can produce its vehicles within 10 years.

The minister made these remarks on March 29 while launching the Nigeria Automotive Industry Development Plan at a gathering that was attended by stakeholders drawn from the private and public sectors, Techeconomy reports.

According to the minister, plans are underway to position Nigeria as a major player in the vehicle manufacturing industry.

Doris Uzoka-Anite said that the automotive industry development plan was drawn to position Nigeria as a fully-fledged vehicle manufacturer within the next 10 years.

“Nigeria has the capacity to produce its own vehicles. We have the raw materials; we have the skills; we have a market, and now we have a plan that can help us produce our vehicles. These vehicles include motorcycles, tricycles, sedans, heavy-duty trucks,” the minister said.

“With this plan, we should see Nigeria fully producing its own vehicles within 10 years. Our goal is to reduce the cost of purchasing a vehicle for the average Nigerian,” she added.

On his part, Joseph Osanipin, the director-general of the National Automotive Design and Development Council, stated that the policy proposed to help actualise the plan was a five-year tax holiday for assemblers of vehicles in Nigeria.

“Through such fiscal initiatives, there is a deliberate focus on backward integration and component production,” he said.