The Federal Government through the National Automotive Design and Development Council (NADDC), on Monday in Abuja, awarded licences for the establishment of 12 new vehicle assembly plants in the country.
The benefitting companies are automobile manufacturing giants such as Toyota, Honda, General Appliances West Africa, Perfection Motors Company, and Richbon Nigeria.
The others are R.T. Briscoe Nigeria, Nigeria-China Manufacturing Company, Nigeria Sino Trucks, Coacharis Motors, DAG Motorcycle Industry Nigeria, Globe Motors Nigeria, Century Auto-Assembly Nigeria, and Concept Auto Centre.
It reports that the plants are expected produce a wide range of automobile products such as sport utility vehicles (SUVs), passenger cars, pickup vans, buses, tricycles and motorcycles, among others.
The commencement of operations by the new licensees will bring the current total number of automobile assembly plants in the country to 45.
It stated that there were 15 assembly plants in the country before the National Automotive Industry Development Plan (NAIDP) was launched in 2014, but only three were operational.
While stating that 18 additional vehicle assembly plants were set up after the NAIDP came into being in 2014, the document stated that the plants were in different stages of completion."
SOURCE: BUSINESS DAY
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