L
LequteMan
Guest
According to the latest survey carried out by the Manufacturers Association of Nigeria (MAN) capacity utilisation in Nigeria's motor vehicle and miscellaneous assembly industry rose to 50.3 percent in the first half of 2014.
BusinessDay reports this as a significant improvement from 37.1 percent capacity recorded in the corresponding period of 2013 and 42.7 percent reported in the second half of the same year.
“Activities (in this sector) have been boosted recently by the major assembly plants, particularly the tricycle assemblers,” says MAN, in the report.
It means that the automotive policy which was introduced in late 2013 by the Federal Government is consistently gaining traction.
Recently Innoson unveiled the first ever truly made-in-Nigeria cars, placing Nigeria in the league of global car manufacturers.
“We spend about $6 billion annually importing cars. However since the introduction of the auto policy, we have experienced a 20 per cent drop in imported cars and have exceeded expectations in a very short period,” Olusegun Aganga, minister of industry, trade and investment, said during the commissioning of Innoson’s new vehicles in Nnewi, Anambra State
#Nigeria #Innoson
BusinessDay reports this as a significant improvement from 37.1 percent capacity recorded in the corresponding period of 2013 and 42.7 percent reported in the second half of the same year.
“Activities (in this sector) have been boosted recently by the major assembly plants, particularly the tricycle assemblers,” says MAN, in the report.
It means that the automotive policy which was introduced in late 2013 by the Federal Government is consistently gaining traction.
Recently Innoson unveiled the first ever truly made-in-Nigeria cars, placing Nigeria in the league of global car manufacturers.
“We spend about $6 billion annually importing cars. However since the introduction of the auto policy, we have experienced a 20 per cent drop in imported cars and have exceeded expectations in a very short period,” Olusegun Aganga, minister of industry, trade and investment, said during the commissioning of Innoson’s new vehicles in Nnewi, Anambra State
#Nigeria #Innoson
