President Buhari’s rejection of Auto Policy bill is causing concerns in Nigerian automobile industry

25/07/2019

Did you know that President Buhari has just rejected the proposed Auto Policy bill? How does this affect the Nigerian automotive industry? Check why people are concerned below!

NaijaCarNews caught up with a recent public report released by the Daily Trust newspaper that claims President Buhari has declined his required assent to the Auto Policy bill proposed by the NAIDP (National Automotive Industry Development Plan).

It should be noted that this rejection is coming way after a long 4 years of different legislative fireworks even before the long gone 8th National Assembly later passed the bill back in the year 2017.

Now that it’s been 2 years since the bill has been passed, anyone could justify why there is now concern within the Nigerian automotive industry as President Buhari still failed to give his assent to this same bill.

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President-Muhammadu-Buhari-rejects-NAIDP-auto-bill

President Buhari declines his assent to the proposed Auto policy bill by the NAIDP with no specific reason given

Most of the top local automotive industry stakeholders and players have been thrown into serious shock by President Buhari’s decision to decline assent to this bill with no specific reason given at all to back his decision.

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Some of the major stakeholders believe that president Buhari’s decision was surely an anti-climax for them in their efforts to help the country attract FDI (Foreign direct investment) through the OEMs (Original Equipment Manufacturers) into the Nigerian automotive industry.

No one is really sure yet why the President has taken this decision but once we have authentic information, we will surely provide an update to this report.

>>> To see more updates like this, click -> automotive industry updates on Naijacarnews!

Oluwaseun Solomon

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