The National Automotive Design and Development Council (NADDC) has concluded the automotive policy review, also known as the National Automotive Industry Development Plan (NAIDP).
The agency said the next step now is to present it to the weekly meeting of the Federal Executive Council (FEC) for approval and presentation to the National Assembly for adoption.
NADDC Managing Director Jelani Aliyu dropped the hint yesterday at the 22nd Abuja International Motor Show in Abuja.
Aliyu, who said the revised policy had been deemed one of the best in the world by automotive stakeholders, added that an improved policy document backed by law would increase the possibility of achieving the objectives of policy, including transitioning from the use of second-hand tokunbo, to local production of new and affordable vehicles in Nigeria and positioning Nigeria as a major vehicle manufacturing hub in Africa.
While also stating that the process of granting legal support to the NAIDP would soon be concluded, Aliyu explained that KPMG has been working with the NADDC on the comprehensive review of the automotive policy document. This is in order to have it passed by the National Assembly as an executive bill.
The managing director said new trends are emerging in the global automotive industry, including OEMs taking a regional approach to component assembly and supply, as well as distribution of finished vehicles, so it is necessary for Nigeria to stand in the current developments.
According to him, the country’s auto sector must be able to strategically leverage and fuel the global component supply chain.