FG says made-in-Nigeria vehicles will flood market next month

Made-in-Nigeria vehicles will flood the market beginning from next month, the Minister of State for Industry, Trade and Investment, Dr Samuel Ortom, has said.

According to him, the new auto policy of the Government has triggered humongous interests from vehicle manufacturers all over the world. Ottoman spoke when a delegation from Automobile Peugeot, France, led by its Vice President, Mr Yves Moulin, visited him at the ministry's headquarters in Abuja on Wednesday.

According to him, the surge of interests on the country's auto industry is a measure of the confidence that investors have about the new auto policy.

The minister said the Federal Government would be reviewing policy periodically to make it more effective. He said,

“The automotive policy is derived from the National Industrial Revolution Plan and we are happy with the response we have been getting from the automotive industry worldwide and with your coming, it shows this policy is working.

“When the policy was introduced, people criticize this policy and most of them do not understand the benefit of the policy. “We have had several stakeholders from the automotive industry approaching us to set up plants and spare parts plants in the country.

“I want to assure up you that on behalf of government that we will do everything to make sure the policy.

Managing Director, Peugeot Automobile Nigeria Limited, Mr Ibrahim Boyi, in his remarks, said the company would be unveiling its first set of locally assembled vehicles in June.

He commended the Federal for resetting the auto industry regulatory environment, making it more attractive.