Federal Government commissions made-in-Nigeria vehicles worth ₦364b

03/11/2020

Posted by: Jane Osuagwu

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The Federal Government has inaugurated $1b worth of locally assembled vehicles produced by 17 firms, with Innoson and Coscharis as pioneers.

The Ministry of Industry, Trade, and Investment, with the collaborative effort of the National Automotive Design and Development Council (NADDC), has commissioned a $1billion( ₦364 billion) worth of made-in-Nigeria vehicles.

local-assembly-plant-in-nigeria

17 firms assembled the vehicles with Innoson and Coscharis as the pioneers

The vehicles, as gathered by Naijauto were locally assembled by 17 firms which are pioneered by Innoson, Nissan, Ford, Coscharis and Elizade Motors.

While delivering the inaugural address in Abuja, Mr.Adeniyi Adebayo, the minister of Industry, Trade, and Investment, stated the made-in-Nigeria vehicles would be put to use in the 2020 Argungu Motor Rally which happens to be the first of its kind. The Motor rally will be flagged off by President Buhari in Abuja.

The minister disclosed NADDC's intention to make the Argungu Motor Rally an annual event for the automotive industry despite the rally’s importance in the Argungu Annual International Fishing & Cultural Festival.

Adebayo said Nigeria has been progressing in the automobile Assembly division and that though they started in 2013 with zero production, the auto industry has been able to produce thousands of locally assembled vehicles.

>>> The Federal Government has already made plans to support Made-in-Nigeria vehicles: FG to impose 125% import tariff on Tokunbo vehicles to encourage local auto industry

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The auto industry now produces thousands of locally assembled vehicles, all thanks to NADDC

He went further to reveal that since the 10 years Nigerian Automotive Industry Development Plan was commissioned in 2013, 62 companies have been registered to assemble vehicles locally.

According to him,

The vehicles and brands for unveiling are a testament to the zeal and commitment of the automotive industrial subsector to the present government’s efforts towards diversification of the non-oil sector of the economy. The role of the NADDC in reviving and sustaining the automotive sector has greatly helped in stimulating growth and development in the Nigerian automotive industry.’

The minister added, the registered companies acquired the right to Assembly vehicles at Semi Knocked Down (SKD) and Completely Knocked Down (CKD) level. And they have the capacity to install about 423,790 units.

Adebayo also said 10,343 units have already been assembled so far, while 31 automotive assemblies were currently listed in the Bureau of Public Procurement for patronage.

>>>See our news section for more automotive policies on cars and updates on made-in-Nigeria vehicles

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Jane Osuagwu

Jane Osuagwu

Car prices

Jane Osuagwu is an automotive writer at Naijauto.com. She's a car enthusiast who loves creating educative and informative topics on cars, ranging from maintenance tips to updates on the latest trend in the auto industry in concise and friendly writing. 

Jane is also a blogger and loves reading, inspiring people and getting involved in personal development projects.

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