The Minister of Industry, Trade and Investment, Mr Adeniyi Adebayo on Monday disclosed that 62 companies have been registered to assemble cars in Nigeria.
Adebayo spoke in Abuja at the unveiling of several locally assembled vehicles worth about $1 billion.
The vehicles were assembled by 17 companies, including Coscharis, Nissan, Innoson, Ford and Elizade motors among others, that are pioneering made-in-Nigeria vehicles.
The Minister in his address said with the inauguration of the 10-year Nigerian Automotive Industry Development Plan (NAIDP 2013-2023) in 2013, about 62 companies have been registered to assemble vehicles.
The minister said the companies were registered to assemble vehicles at both Semi Knocked Down (SKD) and Completely Knocked Down (CKD) levels with a combined total installed capacity of 423,790 units.
He explained that assemblage of 10,343 units had been achieved so far while 31 automotive assembly companies were currently listed under the Bureau of Public Procurement for patronage.
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 National Automotive Design and Development Council (NADDC) in reviving and sustaining the automotive sector has greatly helped in stimulating growth and development in Nigerian automotive industry”.
He however urged Nigerians to buy made-in-Nigeria vehicles to create jobs, build capacity, drive investment, conserve foreign exchange and transfer technology to the citizens.
Adebayo also disclosed that the vehicles would also be used for “2020 Argungu Motor Rally”.
The first ever Argungu motor rally will be flagged off by President Muhammadu Buhari in Abuja.
Adebayo said that although the rally was an integral part of the Argungu Annual International Fishing and Cultural Festival, the NADDC had plans to turn it into an annual event for the local auto industry in Nigeria.
He said that Nigeria was moving forward in the area of automotive assembly adding that from zero production level in 2012 the industry had recorded tens of thousands of newly assembled vehicles in the country.
In his remarks, NADDC Director-General, Mr Jelani Aliyu, said that so far about one billion dollars had been invested by the auto companies whose cars were being unveiled while 4,700 people were directly employed in the sector.
Aliyu added that it set aside N5 billion towards a single digit vehicle finance scheme and was talking with banks such as Zenith, Wema and Jaiz to provide the financing for vehicles made in Nigeria.