Bill to Enable Production of Nigerian Cars, Tyres Passes Second Reading

A bill seeking to enable the production and assembly of cars and tyres in Nigeria as well as the provision of tariff incentives and income tax reliefs on all automobile and automotive components passed through second reading on the floor of the Senate yesterday.

Tagged: ‘Nigerian Automotive Industry Development Plan (Fiscal Incentives, Assurances and Guarantees) Bill’, the bill which is meant to strengthen the Nigerian automotive industry development plan, will among others, promote a sustainable and competitive automotive industry.

It is also meant to provide an enabling environment for the survival of existing assembly plants, revive the tyre industry, herald Nigeria's industrial revolution plan using the automotive sector as a key component to diversify the economy and also generate

Aston Martin turns to Nissan for new chief executive

Luxury carmaker Aston Martin has hired senior Nissan executive Andy Palmer as its new chief executive.

Aston Martin has been without a chief executive since Ulrich Bez stepped down after turning 70 in November 2013.

Mr Palmer, 51, will take over at Aston "after he completes a transition period from his current employer", the carmaker said in a statement.

The departure of Mr Palmer, who oversaw Nissan's Infiniti unit, sparked a reshuffle at the Renault-Nissan group.

He will be replaced at Nissan by Renault's Philippe Klein.

Mr Palmer is a