Auto reforms to simulate growth, push up local production – Investors

Image result for Auto reforms to simulate growth, push up local production"Nigeria’s Trade and Investment authorities are positive the country’s auto reforms could stimulate the sector’s growth and push up local production. This is against the backdrop of a review of the country’s auto policy and automotive industry’s development plan.

Lara Afolayan reports that the National Assembly passed the country’s draft auto bill in 2018.

It was later sent to the executive for assent but was returned to the Automotive Design and Development Council for readjustment following some
issues raised.

The document is now being reviewed.

The South African and Moroccan automobile industries have aided their national development.

There are now expectations that the Automotive industry’s development plan will assist Nigeria toe the line of these economies in growing and
sustaining the sector’s development.

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