FG Set To offer Nigerians Credits For Car Purchases- Tinubu

President Bola Tinubu, on Friday, disclosed the plans of his administration to provide consumer credits for Nigerians to purchase cars.

This follows the recently approved Consumer Credit Policy, that set aside about N100b to aide workers purchase cars and other vital products .

Ajuri Ngelale, the presidential spokesman, noted that the President dropped the hint, when he received the African Association of Automotive Manufacturers and the Nigerian Automotive Manufacturers Association, led by Doris Uzoka-Anite, Minister of Industry, Trade and Investment.

The team which was received on behalf of the President by Femi Gbajabiamila, Chief of Staff to the President, assured of the President’s commitment to Nigeria’s industrialization as evidenced by all of the policies being implemented under his administration.

Ngelale, noted that the delegation consisted of the Director-General of the National Automotive Design and Development Council (NADDC); representatives of the Nigerian Airspace Management Agency (NAMA), as well as Executive Directors of Stallion Group, Toyota/CEAO and NISSAN.

The statement showed that “a spokesperson of one of the associations, revealed that the visit was to apprise President Tinubu of the efforts being made to start manufacturing vehicle/spare parts in Nigeria."

Also, they informed the Chief of Staff to the President that a legislative bill to drive the automotive industry was being drafted and reviewed by the Federal Ministry of Justice.

“They emphasized the need to develop the industry, which would create massive employment for Nigerian youths and ease the burden on the much-needed foreign exchange."