The Federal Government will officially commence the disbursement of $19m auto credit scheme in January 2025.
The Director General, National Automotive Design and Development Council, Joseph Osanipin disclosed this at an interactive session with members of Commerce and Industry Correspondents Association of Nigeria, CICAN in Abuja.
He said modalities for the distribution through commercial and microfinance banks have been completed and the interest rates structured to enable beneficiaries of the scheme buy new locally assembled vehicles.
The NADDC boss also spoke on the need for motorists to take the conversation to CNG very seriously.
He however, noted that thirty youths were sent to China to enhance their skills on automotive design and development among thousands of others being trained locally to improve the nation’s automotive value chain.
