NADDC, CBN Begin Talks Over Automative Financing For Affordable Auto Purchase



Talks have begun between National Automotive Design and Development Council and  the Central Bank of Nigeria (CBN) with a view to design workable solutions for automotive financing to make auto purchase affordable for Nigerians, Jelani Aliyu, the Director General of NADDC has disclosed.
Aliyu gave the hint while making a presentation at the 9th Annual Transport Lecture organized by Transport Day Newspapers, with the theme: ‘Nigeria’s Transportation For Development; Sectoral Achievements, Prospects and Challenges’ which held in Abuja.
“We had a meeting with the CBN yesterday on auto financing. We want to work out a solution that would enable Nigerians buy new vehicles and pay over a period of six years” he said.
The NADDC boss said the move is part of the agency’s efforts geared towards promoting and enhancing value addition in the transport cum automotive sector of the economy by creating a conducive business climate to further enhance investment inflow and industrialization. 
Aliyu said NADDC is rapidly shifting attention to carbonless transport system in Nigeria in a bid to develop and promote advanced transport technology in the automotive industry. 
“This is because, vehicle electrification is inevitable, it is the future of automotive industry worldwide and we are working assiduously towards achieving its comprehensive and sustainable adoption in Nigeria. 
“There is no gainsaying the fact that poor maintenance culture of vehicles in the transport sector contributes immensely to environmental pollution. The use of EVs that have advanced technology will not only curb these excesses but will also lead to more productivity in the industry. 
“Currently, one of our top focus areas is scaling up production of applicable electric vehicles locally, to enable Nigeria meet its target for the Paris Accord and 2060 net zero commitment, both on reducing harmful gas emissions from vehicles” he said. 
He further stated NADDC recently  set up a Technical Committee on Electric Vehicle Development Plan aimed at drawing up a comprehensive development plan for vehicle electrification in Nigeria, towards the realization of full scale local production of multiple brands of applicable EVs that would be in tune with the economic structure of the country and to be supported by establishing effective ecosystem of charging infrastructure. 
According to the NADDC boss, this plan would also ensure that made-in Nigeria EVs are of world standards and compete favourably in the global market. 
“As a pilot scheme project, the NADDC has established 100% Solar Powered EV Charging Stations at Usman Danfodio University Sokoto, University of Lagos and University of Nigeria Nsukka and also discussing with other stakeholders for collaboration in establishing more charging infrastructure all over the country. 
“In conclusion, NADDC is committed to establishing and giving support to development programmes that will aid the Nigerian transport sector. I therefore urge all stakeholders to begin to think of a paradigm shift from the conventional vehicles to carbonless transportation system and key into the vehicle electrification projects of the Council with a view to achieving cleaner air in Nigeria” he added. 
 *FG Tasks States On Inland* *Water Transportation* *Developments* Federal Ministry of Transportation on Thursday charged states across the nation to key into developments of inland water transportation.
Dr. Ajani Magdalene Nwanwuche, the Permanent Secretary, Federal Ministry of Transportation, gave the charge at the 9th Annual Transport Lecture organized by Transport Day Newspapers, with the theme: ‘Nigeria’s Transportation For Development; Sectoral Achievements, Prospects and Challenges’ which held in Abuja.
“The deployment of deep blue sea project for safety and secured shipping is a major achievement as well as increased public, private sector engagement in the development of world class facilities within the properties of the Nigerian Inland Water ways Authority (NIWA) in Lagos State,  and I am encouraging other states to key into development of inland water transportation” she said.
According to the Perm Sec, the administration of President Muhammadu Buhari recognizes the importance of the transportation sector to the industrialization and diversification of the Nigerian economy, hence it  leveraged the sector by reviving and rehabilitating existing transport infrastructure providing new ones as well as ensuring the development of professional capacity building for manpower to drive the sector. 
She noted that transportation constitute a significant factor to national economic prosperity as transportation facilitates international and local trades, supports food security, generates employments, delivers energy and enables industrial and infrastructural development.
Dr  Nwanwuche, who  commended Transport Day Newspapers,  the organizers of the event for keeping Nigerians abreast with current global happenings on the transport and logistics sector, noted that the transport developmental strides of the present administration are evident in the rehabilitation of existing narrow gauge rail lines and the development of standard gauge railway lines to connect cities and towns within and outside the country. 
The Perm Sec also stated that the development of deep seaports, ports and the automation of the nation’s ports operations to facilitate the ease of doing business are the thoughts and evidence realities of the Ministries for sector developments, adding that the Ministry of Transportation is not deterred in its vision to evolve a world class transportation system in Nigeria.


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