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FG to float tyre, battery assembly plants soon

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The Federal Government is planning to float a tyre and battery assembly plants to compliment vehicles manufacturing in the country.

According to the Federal Ministry of Industry, Trade and Investment, some auto investors have met the minister, Richard Adeniyi Adebayo, at a crucial session to discuss plans to establish a tyre and battery assembling plants in Nigeria in which the minister considers to be a good and viable option to the new country’s new auto plan.

The new auto policy plan as gathered from the ministry would be a one-stop shop for vehicles assembling in the country with government planning to use the scheme as a citadel for industrialisation and creation of job.

The minister explained that the administration decided to lay to rest the six-year National Automotive Industry Development Plan (NAIDP) following mounting pressure from the members of the organised private sector (OPS) and auto stakeholders for a review of the plan for industrial purposes.

Adebayo also confirmed that President Buhari refused to assent to the auto policy bill passed by the 8th National Assembly following negative feedbacks from the auto stakeholders and private sector on its severe implication on the country’s economy.

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