The Attorney General and Minister of Justice, Abubakar Malami says Nigeria will support any efforts geared at producing automobiles by Nigerians.
He gave the assurance at the launch of an Automotive design challenge in Abuja.
Malami said production of mini tractors would make agriculture farming easier and also increase yield.
“This will factor transportation development of the nation and bring agricultural development through mini tractor innovations, this effort will translate to foreign exchange in relation to which Nigeria spends around eight billion dollars annually importing automobiles,” he said.
Malami noted that creating any type of automobile in Nigeria would further reduce the cost of importing used cars.
The Deputy Governor of Ondo State, Mr. Agbola Ajayi called on Nigerian government to create an enabling environment for investor to come in and investment in the automotive industry.
According to him “Its not just to close the boarder but the government must create the environment and the legal frame work for investors to come in so that the hardship will not be too much, so that the main motive of the boarder closure will be achieved.”
“Our country should also do everything to allow our investors have confidence in us so that we do not have inconsistent policies that will not allow them drive in business,” he said.
He further called on CBN to provide funding to automobile companies to enable them create more design and even speed boats.
Also the Minister of Industry trade and investment, Mr Adeniyi Adebayo who was represented by Mr John Aboje said the ministry was committed to diversifying the country’s economy.
He stated that promoting trade, investment and increase production of goods and services away from the oil sector would create wealth in the country.
The challenge is open to youths between 18-40 years to showcase their talent by designing Nigeria applicable mini taxi and mini tractor.