Chairman of the Governing Board of the National Automotive Design and Development Council (NADDC) Senator Osita Izunaso has said the council would engage the federal government and the National Assembly on possible amendment of the 2020 Auto Financing Policy Act.
According to him, if the law is amended or repealed, it will help promote purchase of vehicles and the automobile industry in the country.
Izunaso stated this when he led the management team of the council on a working and inspection visit to the PAN Nigeria Limited, Kaduna where he expressed satisfaction with what he saw after inspection of the
NADDC is a parastatal of the Federal Ministry of Industry, Trade and Investment established in 2014 primarily to initiate, recommend, supervise and regulate policies and programmes for locally manufactured vehicles and components.
“From what we have seen today, we will engage the government and National Assembly for possible amendment or repealing of the 2020 Auto Financing Policy Act, so that the quality of purchasing can be promoted,” he said.
In his remarks, the director- general of the NADDC, Jelani Aliyu expressed satisfaction with facilities in PAN Nigeria Limited, stressing that a policy that will enable growth
is essential, while assuring of maximum support.
“With what we have seen in place and high amount of funds invested, we will give them necessary support and frame work that will ensure they remain in business for a guaranteed creation of jobs.
“We are looking forward for the partnership between PAN Nigeria Limited and Cherry and we hope to work with them towards exportation of their vehicles to African countries,” he said.
In her response, the acting managing director/ chief executive officer, PAN Nigeria Limited, Taiwo Oluleye, said she sincerely wished that the government could speedily act particularly in the area of tariff review.