The National Automotive Design and Development Council has called on the Federal Government to make a legislation that would turn the auto policy into law.
The Director-General, NADDC, Mr Jelani Aliyu, said this on Friday during an interview shortly after inspecting the Honda HR-V which was newly introduced into the Nigerian market.
The automotive plan which contains a number of policy measures needed to revitalise the industry for job creation, local value addition, and technology acquisition has six components.
They are standards, industrial infrastructure, local content development, skills development, investment promotion and market development.
He said the need for a legislation to support the policy was based on the conviction that it would assist in strengthening the policy as well as preventing it from being changed by subsequent governments.
He said, “We need to have the auto policy become law. As you are aware, the auto policy is a set of fiscal incentives that are designed to boost production.
“The big question in Nigeria is, are we after short-term benefit? The only way we can ensure that this country continues to be a successful nation is to provide industrialisation and provide jobs.
“The only way we can provide jobs is to boost industries and support those local and international investors in coming into Nigeria and producing.
He added, “That is why the automotive policy is so important for local production. We are making progress because this shows there are investors from around the world especially from Japan which is the heartbeat of automotive.
“So we are working very closely with the National Assembly to see how that automotive policy becomes law so that there was no policy summersault.”
On the vehicle finance scheme, Jelani said its implementation would commence before the end of June.
He said that the agency had reached an understanding with the three banks that would give loans to eligible Nigerians after they must have deposited 10 per cent of the cost of the vehicle.