The National Automotive Design and Development Council (NADDC), has said that half a trillion naira, i.e. over N500 billion has been invested by credible Nigerian and international automotive companies in setting up factories towards the development of the nation’s automotive sector.
NADDC, through a post on its verified Facebook page on Saturday, also said the development was as a result of its unrelenting efforts, adding that the companies have a combined installed capacity to produce over 400,000 vehicles per year.
The companies are Dangote-SinoTrucks, Innoson, PAN, Cherry, Peugeot, Stallion Group, Hyundai, Honda, Elizade, Lanre Shittu, JAC, Kojo, Nord, Omaa, Vistar, Jet Systems, National Trucks Manufacturers, GAC, Kia, and Mikano/Geely.
Consequently, the Council’s Board chairman, Senator Osita Izunaso, together with Board members: Mr. Tokunbo Aromolaran, Dr. Nankin Bagudu, Engr. Emmanuel Kwaya, Reverend Lambert, Dr. Obi, and Director General/CEO of NADDC, Jelani Aliyu, early this week toured a number of the factories.
The Council, therefore, urged Nigerians to seize the opportunity and patronise the locally-made vehicles instead of spending huge sums of money to buy second-hand vehicles imported from other countries after being used and dumped.
“These commited companies are now actively producing/assembling vehicles in Nigeria. They have a combined installed capacity to produce over 400,000 vehicles per year.
“And this capacity is not only made up of fossil fuel powered vehicles. Recent developments have seen the start of Electric Vehicles assembly in Nigeria with the Hyundai Kona EV, and the test run of the Jet Systems Electric Van.
“So, fundamentally, the Nigerian Automotive sector can produce 400,000 vehicles per annum, what the nation needs is Nigerians to buy that number of these locally produced/assembled vehicles instead of spending money on 400,000 second-hand imported vehicles that have been used and dumped by other countries,” NADDC wrote.