Business News

Nigeria Has Market for New Vehicles—Minister

market for new vehicles

By Modupe Gbadeyanka The Minister of Industry, Trade and Investment, Ms Doris Uzoka-Anite, has said Nigeria has the market for new vehicles, charging local manufacturers to key into the newly launched Nigeria Automotive Industry Development Plan. Business Post reports that the federal government came up with this scheme amid a 226.46 per cent rise in vehicle imports to N1.063 trillion in 2023 from N325.05 billion in 2022, according to data from the National Bureau of Statistics (NBS). At the unveiling of the policy programme over the weekend, she said the country could produce vehicles, including motorcycles, tricycles, sedans and heavy