The federal government is committed to implementing the National Automotive Industry Development Plan (NAIDP) to develop the automobile sector of the country's economy.
Speaking when a delegation from the African Association of Automotive Manufacturers (AAAM) visited him in Abuja, the minister of Industry, Trade and Investment, Okechukwu Enelamah, said implementing the plan would help speed up the country's economic diversification that is the goal of this current government.
The implementation of the plan, which ought to have started in 2013, has been shaky, fueling speculations on the fate of the policy designed to discourage vehicle importation and encourage local production.
The National Automotive Design and Development Council (NADDC) puts annual imports at about 400,000 vehicles valued at about US$3.45 billion of which 75 percent are used cars.
The implementation of the plan would not only reduce importation, but will also save the country scarce foreign exchange and increase local patronage of vehicles manufactured in Nigeria.
The AAAM's delegation to the minister's office was headed by the association's chairman, Jeff Nemeth.
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