The National Automotive Design and Development Council (NDDC) have confirmed that Nigeria can now produce at least 400,000 cars annually.
According the agency, Private investors including foreigners have invested a total of N500bn in the Nigeria’s auto industry, which now has the capacity to manufacture 400,000 cars annually.
Chairman, National Automotive Design and Development Council, Senator Osita Izunaso, disclosed this when he led members of the council’s board on a tour of auto assembly plants in Lagos and other parts of the country.
Other board members on the tour are Mr Tokunbo Aromolaran, Dr. Nankin Bagudu, Engr. Emmanuel Kwaya, Reverend Lambert, Dr. Obi, and Director General Jelani Aliyu.
A report obtained on Sunday from the Facebook page of the council stated that fundamentally, the Nigerian Automotive sector could produce 400,000 vehicles per annum, adding, “What the nation needs is Nigerians to buy that number of these locally produced/assembled vehicles instead of spending money on 400,000 second hand imported vehicles that have been used and dumped by other counties.
“As a result of NADDC’s unrelenting efforts, over half a trillion naira, i.e. over N500 billion has been invested by credible Nigerian and international companies in setting up factories towards the development of the nation’s automotive sector: companies such as Dangote-SinoTrucks, Innoson, PAN, Cherry, Peugeot, Stallion Group, Hyundai, Honda, Elizade, Lanre Shittu, JAC, Kojo, Nord, Omaa, Vistar, Jet Systems, National Trucks Manufacturers, GAC, Kia, Mikano/Geely.”
It stated that these commited companies are now actively producing/assembling vehicles in Nigeria. “They have a combined installed capacity to produce over 400,000 vehicles per year. And this capacity is not only made up of fossil fuel powered vehicles: recent developments have seen the start of electric vehicles assembly in Nigeria with the Hyundai Kona EV, and the test run of the Jet Systems Electric Van,” it added.