Naijauto.com is pleased to inform you that things are about to change for better in the auto industry as many Nigerians will soon become car owners. This new initiative will make it quite easy to get the car of your dream without much financial stress. Nigerians will now be able to buy vehicles that are manufactured within Nigeria with just a ten percent deposit. The other 90% balance payment would be spread at a minimum of 5 years installment.
NADDC, in collaboration with 3 banks, will offer eligible Nigerians chance to own a car with just 10% deposit
This exciting announcement was made recently by Jelani Aliyu, the Director-General of the National Automotive Design and Development Council (NADDC).
The NADDC DG believes that the project which is set to begin in the next three months would be a form of partnership between NADDC with JAIZ, Zenith and WEMA banks.
NADDC, at the beginning of 2019, entered into a partnership with 3 Deposit Money Banks in order to solicit for financing. This collaboration is targeted towards a financial scheme for made-in-Nigeria vehicles.
NADDC boss, Jelani Aliyu, assures Nigerians of the fruitfulness of such mouthwatering initiative in no time
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Jelani Aliyu revealed that the automotive scheme is under the implementation of the National Industrial Development Plan. This plan comprises a measure of policies required to bring the industry back into life. These include technology acquisition, job creation, and local value addition. For this to come into life, there is a need to embrace the vital 6 components which comprise of industrial infrastructure, standards, investment promotion, market development, and skills developments.
The Director-General of NADDC further made it known that an agreement has been reached by the agency with the 3 banks. By implication, qualified Nigerians will be able to get loans even after making deposits of ten percent of the vehicle’s cost.
This is indeed exciting news for those who are looking forward to getting their first car with a limited budget.
We sincerely hope it happens soon!