The Vice President, Prof Yemi Osinbajo has stated that Nigerians spend about $8 billion annually on importation of vehicles.
Speaking at the 19th Abuja Motor Fair on Tuesday, the VP, who was represented by the Director-General, National Automotive Design and Development Council (NADDC), Jelani Aliyu, disclosed that the government was fully committed to industrialisation and the mining sector to enable it create direct and indirect jobs for Nigerians
“About $8 billion goes to overseas for importation of vehicles while Nigerians are suffering, also most of the used vehicles imported are unsafe and not good for the citizens,” he said.
Osinbajo disclosed that the government had signed a Memorandum of Understanding (MoU) with Volkswagen group to develop an automotive hub in Nigeria.
He said the MoU was a major step toward the development of a robust automotive industry, to contribute to the continuous economic development of the country.
The Vice President said government believed in the strategic and catalytic role of the automotive industry in the diversification of the Nigerian economy.
He said that 3,200 youths have been empowered through the N-Power Graduate Skills Acquisition Programme, adding that the programme will be expanded and made better to benefit more Nigerian youths.
According to him, N-power is a federal government initiative on job creation and empowerment initiative of the Social Investment Programme.
Osinbajo disclosed that the Nnewi automotive parts industrial park had got its master plan and would soon be functional.
He expressed government’s commitment to work with motor manufacturers and stakeholders to ensure that used cars were phased out in the country.


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