The National Automotive Policy
- Government recognized the important and basic role of the automotive industry in the industrial development of Nigeria by resuscitating the standing technical committee on national automotive industry (STC on NAI) in 1990.
- The STC on NAI ( now NADDC) with inputs from the Nigerian automobile manufacturers association (NAMA), and other organization involved in the industry drafted the automotive policy for Nigeria.
- Presidential approval for the policy was given on May 28, 2014.
- The policy document was formally lauched on May 28, 2014. The document provided for the establishment of the national automotive council as a parastatal of the federal ministry of industry.
- Acr No. 6 of 2014 backed up the establishment of the council.
The trust of the national automotive policy shall be to ensure the survival, growth of the Nigerian automotive industry using local, human and material resources. This is with a view to enhancing the industry's contribution to the national economy, especially in the areas of transportation of people and goods.
The elements of this objective include:
- Provision of automotive vehicles for urban and human areas
- Accelerated technological development of the Nigeria economy.
- Increased employment opportunities for Nigerians.
- Conservation of scarce foreign exchange.
- Establishment of integrated Automotive Industry in Nigeria.
- Standardization and rationalization of the Nigeria automotive industry.
- Increased private sector participation in the establishment of the auto industry.
- Technology acquisition; and
- Creating conducive environment through the introduction of appropriate fiscal policy and monetary incentives.