Reviewed Auto Policy will be Out Very Soon, Says FG

The federal government has assured stakeholders in the nation’s auto industry that a reviewed auto policy would be released before the end of the year. Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo stated this during a ‘meet the stakeholders’ parley’ anchored by BKG Exhibitions Limited, at the minister’s o΀ce in Abuja, recently.

Otunba Adebayo said the government was working hard to put in place a workable auto policy before the end of 2021.

Responding to issues on the myriad of challenges confronting the industry in Nigeria, as raised by the BKG team, the Minister said: “I can assure you that we are not unaware of these problems and we have been doing our best to see how we can tackle these problems. I am sure you must be aware that at the moment we are working on the auto policy and we are hopeful that before the end of this year we have an auto policy in place which will be presented to Federal Executive Council for approval.”

He further disclosed that the policy was part of discussions the federal government had with Original Equipment Manufacturers recently, assuring that the document would be out before the year ran out. The minister revealed that already the AfriExim Bank had accepted to fund the consultancy for the preparation of the policy.

The minister assured the BKG Exhibitions’ team, led by the Managing Director, Mr. Ifeanyichukwu

Agwu and other automotive industry key players of the ministry’s support.

He said, “The auto sector is a sector that our ministry is very interested in because we know that it portends a lot for the future of this country in terms of employment for our teeming youths we will support its growth and development.” He strongly assured that the government is working hard to adequately

address to challenges of the industry.

Earlier, the Managing Director of BKG Exhibitions Limited, organiser of the Abuja International Motor Fair, said the autho show started in 1988, along with the Lagos Motor Fair and Autoparts Africa Expo.

He commended the Minister for granting them audience and giving a listening ear to the stakeholders in the industry.

Representative of Elizade JAC Autoland Mr. Abeeb Olawale, representative of GAC Motors, Mr. Jubril Arogundade Managing Director of BKG Exhibitions, Mr. Ifeanyichukwu Agwu; Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo; Deputy Director, FMITI Mr. Francis Onuorah; and others at the ‘Meet the Stakeholders’ Parley with the minister in Abuja… recently