Nigeria Vehicle Purchase Scheme To Begin In March

channelstv.com

A total of 2.5 billion Naira has been set aside for the flag-off of the Nigerian Vehicle Purchase Scheme expected to commence in March 2015.

At an event in Abuja on Friday, the Director in-charge of Industry and Infrastructure at the National Automotive Council, Mr Waheed Odetoro said the scheme would allow Nigerians acquire vehicles at affordable prices and also encourage patronage of made in Nigeria vehicles.

Mr Odetoro also said that over 30 companies had been supported with 11 billion Naira through its automotive development fund since 2005.

The Nigerian government, through new policies and the Vehicle Purchase Scheme, is making efforts to encourage indigenous automobile manufacturers and discourage importation.

Most vehicles used in Nigeria are imported from other countries.

In may 2014, automobile giant, Stallion Group, successfully rolled out its first Nissan-branded vehicles from its Lagos assembly plant. It is one of the automobile companies that the government Vehicle Purchase Scheme would be targeting.

The group is Nissan’s exclusive distributor in Nigeria and has commissioned its automotive assembly facility to international standards.

Nissan’s association with local heavyweight, Stallion Group, in Nigeria has stimulated the brand’s prospects in the country and is expected to drive its growth plans with higher momentum.

Rolling out the first set of vehicles on Friday, the Managing Director, Stallion Auto Group, Tokunbo Aromolaran, said the development was the company’s way of keeping with its frontline position in the automotive industry.