Yesterday, May 15, the Federal Government announced plans for the massive production of locally manufactured vehicles in June.
During a visit of a delegation from Automobile Peugeot, France led by its Vice President, Mr Yves Moulin, at the ministry’s headquarters in Abuja, Dr Samuel Ortom, the Minister of State for Industry, Trade and Investment, stated that as the new auto policy was adopted, the Federal Government had received a lot of interest from vehicle manufacturers.
According to Dr Samuel Ortom, to make the new automotive policy which is derived from the National Industrial Revolution Plan more effective, the Federal Government would be reviewing it periodically.
The minister said, "When the policy was introduced, people criticised it and most of them do not understand the benefit of the policy. We have had several stakeholders from the automotive industry approaching us to set up assembly plants and spare parts plants in the country."
He also assured the delegation that they "will do everything to make sure the policy succeeds."
According to the Managing Director, Peugeot Automobile Nigeria Limited, Mr Ibrahim Boyi, the company would be unveiling its first set of locally assembled vehicles in June. He added that the full implementation of the new auto policy would revolutionise the growth and development of the nation’s industrial sector.
Mr Ibrahim Boyi said, "The leadership of AP France is here and this is the commitment of the leadership to the Nigerian market.
"We have already outlined technical activities to commence assembly operations in Nigeria as a result of the new policy. We are hoping that our first assembly cars will come out from our plants by June this year."
"There is a huge potential in Nigeria; you have a very young population, talented and educated people. With this and with the good regulation to build the local industry, and with a clear vision, we will be able to add value, create employment and attract suppliers," Mr Yves Moulin stated.