Federal Government set to raise number of locally assembled cars to 80% by 2023

The Federal Government has revealed plans to increase the number of vehicles assembled in Nigeria.

According to Luqman Mamudu, Director of Policy and Planning for the Abuja-based National Automotive Council, the country currently imports “almost 100 percent” of vehicles.

However, the government is determined to change this by setting a new goal, which is to raise the number of locally assembled cars to 80% by 2023.

Statistics show that this increase will create jobs, reduce the $9 billion annual cost of bringing in vehicles and components, and increase the government's economy generally.

Nigeria's plans to assemble 500,000 vehicles per year over the next five years, explains the sudden manufacture of Ford's first ever truck and Peugeot's first ever Nigerian-made car.

READ: CEO, Coscharis Motors, speaks on 1st Nigerian-made Ford Truck, calls it an "important milestone"

At this rate, do you think Nigeria can hit it's goal, which is to assemble 500,000 vehicles per year over the next five years?