Auto Industry: FG to provide legal framework for local manufacturing – Malami

The federal government is poised to provide a strategic legal framework that will enhance the efficiency of Nigeria’s automotive industry, Minister of Justice and Attorney General of the Federation, Abubakar Malami has said.

Malami made the disclosure at an automotive industry function in Abuja where he stressed the need for a legal framework to facilitate creativity and innovation in the auto industry.

“Annually about $8bn is spent to import cars into Nigeria which is huge, therefore the federal government will support creativity by Nigerian youths to provide a legal framework that will facilitate the assembly and production of Made in Nigeria cars.

“This is part of government’s resolve to promote rapid development in the auto industry especially in the area of local manufacturing, which will also promote development in the agricultural and transport industries.

“Also the framework will afford Nigeria’s talented youths to showcase creativity in the industry, which will in turn provide massive job creations and boost industrialization,” the attorney general added.

In the same vein, the deputy governor of Ondo state, Agboola Ajayi backed the policy of the federal government to close it’s land borders, describing it as a step in the right direction to boost local production in all areas.

“The federal government policy on border closure is currently not palatable to many Nigerians, but the gains is for a long term and will be for future gains as it will yield positive and long lasting results.

“We must encourage and sustain the future of Nigeria especially now that the world is moving towards electric cars, which Nigeria should key into so that we can have subsidized cars in the next three years,” he said.

Ajayi also charged the federal government to come up with consistent policies in the auto industry that will boost investor confidence and provide employment for Nigeria’s teeming young population.

He added that the state governments on their part will key into the different initiatives of the federal government in the manufacturing and automotive sector in order to boost and expand the sector.