The Director-General of the National Automotive Design and Development Council (NADDC), Jelani Aliyu, has disclosed that plans are underway to make Made-in-Nigeria vehicles readily available for Nigerians to buy and make payments in at least five-year instalments.
Aliyu spoke to journalists at the ongoing GITEX 2019 in Dubai, United Arab Emirates.
He stated that his agency is collaborating with JAIZ, WEMA and Zenith banks with a view to providing single-digit financing for Made-in-Nigeria vehicles.
The NADDC boss said that in about three months time, Nigerians will be able to put down 10% of a vehicle price to acquire it and pay over five years.
Aliyu noted that these vehicles would be “fuel-efficient” and “create tens of thousands of jobs”.
“Instead of continuing to be importing fully-built vehicles from overseas, we are working towards promoting and sustaining the production of vehicles in the country.
“This effort will give us brand new vehicles that would be fuel-efficient, very modern and it will create tens of thousands of jobs.
“It will help grow the economy and it will also stop us from being a dumping ground for old and dilapidated vehicles.
“We feel that with this scheme in place, Nigerians can now buy and drive new vehicles. Nigerians deserve more than that,” he said.
The DG also stressed that the vehicles are cost-effective, affordable and in tune with the environment.
“Of course, the objective of manufacturing these vehicles locally is to be cost-effective, affordable and very in tune with the environment and elegance.
“So we are looking at the price much, much lower than what we have today, probably between three and five million Naira,” Aliyu stated.
The NADDC was established to create an enabling environment for the manufacture of Nigerian made vehicles of international standards at competitive prices using local human and material resources.