News
Local vehicle manufacturing to commence soon, declares industry minister
Plans are underway to position Nigeria as a major player in the vehicle manufacturing industry, according to the Minister of Industry, Trade and Investment, Doris Uzoka-Anite.
The minister stated this on Friday while launching the Nigeria Automotive Industry Development Plan at a gathering that was attended by stakeholders drawn from the private and public sectors.
According to Uzoka-Anite, the automotive industry development plan was drawn to position Nigeria as a fully-fledged vehicle manufacturer within the next 10 years.
She said, “Nigeria has the capacity to produce its own vehicles. We have the raw materials; we have the skills; we have a market, and now we have a plan that can help us produce our vehicles. These vehicles include motorcycles, tricycles, sedans, heavy-duty trucks.
“With this plan, we should see Nigeria fully producing its own vehicles within 10 years. Our goal is to reduce the cost of purchasing a vehicle for the average Nigerian.”
On his part, the Director-General of the National Automotive Design and Development Council, Joseph Osanipin stated that the policy proposed to help actualise the plan was a five-year tax holiday for assemblers of vehicles in Nigeria.
He said, “Through such fiscal initiatives, there is a deliberate focus on backward integration and component production.”
Members of the Automotive Industry Development Plan implementation committee are drawn from the Ministries of Finance, Transport, and Environment as well as Industry, Trade and Investment.
It also comprises the Nigeria Customs Service, the Manufacturers Association of Nigeria, and the Standards Organisation of Nigeria.
Last year, Nigeria’s vehicle assembling industry, estimated to be worth around N302bn, tanked to a new low due to increasing production costs and weakened demand for locally assembled automobiles.
According to the Manufacturers CEOs Confidence Index, activities of motor vehicles and miscellaneous assembly deteriorated further below the benchmark (50 points) from 48.6 to 46.7 points.
For example, in the second quarter of 2023, players in the sector saw production and distribution costs soar by 17.3 per cent, while cost of shipments increased by 14.7 per cent.
Capacity utilisation in the sector dropped by 5.6 per cent, forcing local assemblers to cut their workforce by 5.7 per cent during the period.
Prior to 2014, when a policy for the automobile industry was released, giving license for automobile dealerships in Nigeria, the importation of used cars had threatened to wipe up the gains of partnerships forged by the Nigerian governments with foreign car manufacturers in the 1970s
The Federal Government’s Automotive Policy of 2014 is geared towards providing a framework that would support automobile companies to boost local content and establish a vehicle financing scheme that would provide funds for citizens to buy new cars.
However, despite the policy, the government’s refusal to patronise locally manufactured vehicles, coupled with poor regulations, has constituted an albatross on the neck of the industry.
Currently, Nigeria produces less than 10 per cent of the vehicles used in the country.
The African Democratic Congress has raised the alarm over an alleged plan to arrest its National Secretary, Rauf Aregbesola, ahead of Saturday’s governorship election in Osun State.
The party said it had received what it described as “credible reports” of plans to arrest the former Osun State governor in the days leading to the poll.
In a statement signed by its National Publicity Secretary, Mallam Bolaji Abdullahi, on X on Wednesday, the ADC said it was concerned that the alleged arrest could be aimed at disrupting the party’s election activities.
“Given the pattern of intimidation, harassment and misuse of state institutions that has increasingly characterised the conduct of this government towards the opposition, we cannot afford to dismiss these reports,” Abdullahi said.
Aregbesola, who served as governor of Osun State from 2010 to 2018 and later as Minister of the Interior, is currently the National Secretary of the ADC.
The party said there were established procedures that should be followed if any security agency had lawful reasons to question its national secretary.
“Ogbeni Aregbesola is a former Governor of Osun State, a former Minister of the Federal Republic and the National Secretary of the opposition political party. If any security agency has a lawful reason to invite him, there are established procedures for doing so,” it said.
The ADC argued that arresting Aregbesola on the eve of an election in which the party is participating would raise questions about the motive behind such an action.
“An arrest on the eve of an election in which his party is participating would invite only one reasonable conclusion: that the purpose is to prevent him from leading and coordinating the party’s election activities,” the statement said.
The party consequently put the Federal Government and security agencies on notice, urging them to avoid actions that could undermine the credibility of the election.
“The eyes of Nigerians are on Osun,” Abdullahi said.
“Whatever happens before, during and after Saturday’s election will be judged not by the explanations offered afterwards, but by the actions taken now.”
The ADC also warned the All Progressives Congress-led Federal Government against taking any action that could trigger political tension in the state.
“The APC Federal Government must be wary of doing anything that could plunge Osun State into needless crisis,” the party said.
The party further called on the government to respect democratic principles and ensure that political parties are allowed to participate freely in the election.
“Nigeria is still a democracy, and the government would do well to remember that before Saturday,” Abdullahi said.
The Niger State Police Command has confirmed the recovery of nine dead bodies on the Wawa-Lumma road in Borgu Local Government Area of Niger.
The victims were suspected to have been killed by bandits while travelling on the road.
The Spokesperson for the Niger Police Command, SP Wasiu Abiodun, confirmed this to the News Agency of Nigeria (NAN) on Wednesday in Minna.
He said that a team of police and military was dispatched and evacuated the bodies after information was received on Tuesday.
He said clearance operations had been intensified with a view to securing the area from any security threat.
“Police and military tactical teams were mobilised to the scene; the bodies recovered, while clearance operation was intensified to secure the area,” he said.
NAN
Nigerian streamer, Peller has dragged his parents for attending his wedding ceremony with their partners.
Peller had his white wedding, which was attended by many dignitaries over the weekend.
Peller’s parents, who have separated from each other, attended the ceremony with their respective partners.
Expressing his frustration over the development, the TikTok streamer, in a video on Wednesday, revealed that he had confronted his parents for turning his wedding into a party despite his earlier warning.
“I’m tired, I’m tired of all these things. I changed it for them oo, no be small.
“Because I told them to invite just a few people, but my mummy dey carry her own boyfriend come, my daddy carry his own girlfriend come.
“All of them just turned my wedding to party. Polygamy is very hard, I’m from a polygamous family”, he said. (sic)
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