The
Federal Government, has said that vehicles made-in-Nigeria under National
Automotive Industry Development Plan, will sell between N1.2m and N1.5m.
According
to a statement by the National Automotive Council (NAC), “the NAIDP anticipated
that higher-end expensive models will still be imported into the country in the
initial stage, but the new strategy is to encourage local auto manufacturers to
focus primarily on lower-end less expensive models with price range of between
N1.2m and N1.5m; which is affordable to the middle class, coupled with other
finance options.”
The
statement also added that notable players in the sectors have agreed to
establish plants in Nigeria. “Under investment promotion, fiscal measures and
patronage strategies are being introduced to create enabling environment,
allowing existing assembly plants to flourish, while attracting new core
investors like Nissan, Renault, GM and Toyota; which had expressed interest, to
establish plants in Nigeria,” it reads.
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