Director of Operations of Iron Products Industries; Mr. Davies Ikegbula, said except the provisions of the National Automotive Industry Development Plan (NAIDP) are effectively implemented to catalyse the development of the nation’s automotive sector, enjoying a more affordable made-in-Nigeria vehicle may be a mirage.
Ikegbula also disclosed that the company has started assembling of Tata trucks in Nigeria.
Briefing journalists in Lagos last week, the director said that the NAIDP, popularly known as the automotive policy has what it takes to make Nigeria the hub of the continent’s automotive market.
He said the company’s chain of production facilities in the Ikotun area of Lagos, and commercial vehicles of various brands, including Tata, are assembled.
Ikegbula remarked that timely execution of the policy, which seeks to revitalise the auto industry by discouraging vehicle importation and encouraging local production, could help boost activities in the industry.
He reiterated that leveraging on the policy would lead to the production of affordable, but top quality vehicles for the local market and for export.
According to him, existing auto plants like IPI, Innoson and Peugeot Automobile Nigeria Limited, as well as new original equipment investors attracted by the NAID have the capacity to meet the nation’s vehicular needs, including passenger cars, commercial vehicles and special purpose articulated vehicles.
He urged the Federal Government to introduce incentives and policies that would help the local industry to thrive, in addition to addressing the challenges which have militated against progress in the industry, particularly the problem of power and high exchange rate.
He said that given the necessary incentives, the auto policy was capable of encouraging indigenous automotive manufacturers, such as IPI and Innoson.
The automotive policy aims to revitalise the auto industry by discouraging vehicle importation and encouraging local production.
He said: “the NAIDP or the automotive policy has the potential to catalyse the development of the nation’s automotive sector into a major base for the country’s economy, if the provisions are effectively implemented.
“It could also make Nigeria the hub of the continent’s automotive industry.
“A timely execution of the policy can help boost activities in the industry and lead to the production of affordable, but top quality vehicles for the local market and for export.”
Ikegbula added that the policy was also capable of attracting more original equipment investors into the country.
“These companies, both existing and prospective investors, have the capacity to meet the nation’s vehicular needs, including passenger cars, commercial vehicles like pick-ups, light and heavy duty vehicles, amongst others.
“The Federal Government should also introduce incentives and policies that will help the local industry to thrive,’’ he added.
Discussion about this post