"The auto policy has created an environment for investors to thrive,” National Chairman says

The National Chairman of the Automotive Engineering Institute is speaking out on the new auto policy in Nigeria.

According to Engineer Augustine Okolo, the auto policy is essential to the growth of Nigeria's automobile sector.

“It (auto policy) is the only way for Nigeria, if it must develop the automobile industry. It has opened a platform for investors in auto sector to come in. No one invests in an area where he’s not sure of a good return. The auto policy has created an environment for investors to thrive. The government is also contending with forces and as a matter of fact, the forces are quite formidable."

Last year, a new auto policy was approved by the Federal Government.

This new plan was initiated to boost domestic auto production.

So far, 10 brands of cars and SUVs have been assembled at various plants in Nigeria.