National Economic Council resolves to encourage automotive industry

The National Economic Council (NEC) has resolved to encourage the growth of the automotive industry in Nigeria by improving patronage of locally manufactured vehicles.

The Council also got assurances that the current fuel situation in parts of the country would be resolved by next week.

Both of these issues form part of the discussions at this month’s National Economic Council meeting chaired by Vice President Yemi Osinbajo.

Governors, ministers and top government officials attended the meeting.

The NEC is composed of all 36 State Governors, the Central Bank Governor and the Minister of the Federal Capital Territory alongside some other members of the Federal Executive Council.

Briefing the Council on the benefits of locally manufactured vehicles in the country, the Minister of Industry, Trade and Investment,  Niyi Adebayo, said despite the potentials, the local automotive industry has been significantly plagued by several challenges such as weak demand for locally assembled cars, as well as lack of government patronage which could have assisted the assemblers in achieving economies of scale.

Also, Council received an update on the Covid-19 vaccination by the Executive Director, National Primary Health Care Development Agency (NPHCDA), Dr.

Faisal Shuaib

Shuaib called on the Council to note that by March this year, the country needs to reach 50% of eligible vaccination at least for the first dose.

Then, by December this year, the plan is to achieve 70% full vaccination rate.

He added that 5 States including FCT are hitting the mark, the States being Nasarawa, Jigawa, Ogun, Osun and Kwara.

Council resolved that State authorities should prioritize vaccination of citizens against the disease and that since Lagos, and FCT carry the highest-burden, whatever support is necessary should be made available to them.

Ime N
National Economic Council resolves to encourage automotive industry

Share on Facebook «||» Share on Twitter «||» Share on Reddit «||» Share on LinkedIn

Advertisement: Download Vital Signs App (VS App)