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
