The National Automotive Design and Development Council (NADDC) said automotive manufacturing companies in Nigeria made over N360 billion investments into the country’s economy in year 2019.
With this latest development, the Council said Nigeria’s auto industry now has capacity to build at least 408,870 vehicles yearly.
The Council also disclosed that the companies which include, Peugeot, Honda, Mitsubishi vehicle manufacturers, Innoson, among others created employment for about 4,782 Nigerians. Director-general,
National Automotive Design and Development (NADDC), Jelani Aliyu, revealed this at the ongoing review of the Nigerian Automotive Policy Bill & Nigerian Automotive Industry Development Plan (NAIDP) in Abuja.
Aliyu also said the NADDC has a N5billion vehicle finance arrangement that would enable Nigerians purchase new cars and repay the loan at agreed terms.
Explaining further, he said Nigerians can now put down 10 per cent of the value of cars they want to buy and spread payments for over five years, adding that this arrangement has been concluded with some selected banks in the country with the support of the Central Bank of Nigeria (CBN).
He, therefore, urged the stakeholders to come up with recommen dations that would be captured in the proposed new NAIDP bill to be forwarded to the national assembly for passage.
While declaring the meeting open, the Minister of Industry, Trade and Investment, Otumba Niyi Adebayo, explained that as part of efforts on the part of the federal government to implement the Nigerian Economic Recovery and Growth Plan (NIRP), the Nigerian Automotive Industry Development Plan (NAIDP) was approved to transform the country’s automotive industry landscape and attract investment into the sector.
Adebayo, who expressed concern that automobiles and automotive components importation into the country gulped about $8 billion, said this would not continue any longer.
He, therefore, charged participants to work as a team and come up with better recommendation that could be put forward as concrete plan or bill to reverse the present trend.
In his earlier remarks, the chairman of the NADDC board, Senator Osita Izunaso, said the Nigerian Automotive Industry Development Plan (NAIDP) 2014—2024 was designed to ensure growth and sustained development of the auto industry in Nigeria.
According to him, the plan has five critical elements aimed at addressing various challenges facing the sectors and they include infrastructure development, investment promotion, standards, skills development and market expansion.
He therefore urged the participants to come up with relevant recommendations that could be put together and passed to the national assembly.
Izunaso said, ‘’This meeting organised by the Federal Ministry of Industry, Trade and Investment (FMIT) in conjunction with the National Automotive Design and Development Council brings together all actors in the Nigerian automotive industry to discuss and review of the efforts put in getting the Auto Policy Bill passed by the 8th National Assembly but couldn’t get Presidential assent due to observed short comings.’’
Polaris Bank Boosts Government’s Fight against COVID-19, Provides 400 specialized beds and Accessories
Polaris Bank has given a boost to government efforts in the fight against coronavirus (Covid-19). Polaris Bank has acquired 400 specialised hospital beds, complete with mattresses and accessories. The beds according to the Bank, will be handed over to the Lagos State Government; being the state most hit by the pandemic, the Nigeria Centre for Disease Control (NCDC) and other State Governments.
The Bank also announced that it would be partnering with the Nigeria Coalition Against COVID-19 (NCAC), Non-Governmental Organisations (NGOs), Health Institutions and State Governments in stemming the tide of the COVID-19 pandemic by delivering additional materials to cover the areas of testing, isolation, treatment and training.
The Managing Director/CEO, Polaris Bank, Tokunbo Abiru, who disclosed this in a letter to the customers and stakeholders of the Bank, explained that the Bank, working with relevant partners and government, remains committed to “doing everything possible to keep our environment safe for all”.
“At Polaris Bank, we will continue to devote all necessary resources to contribute to the safety of our esteemed customers and our environment as a whole, while maintaining all of the banking services you need to stay safe.”
The Chief Executive Officer also affirmed his commitment to the total well-being of Nigerians and the fight against COVID-19 noting that “as new developments emerge,the Bank would continue to share information about safety of its staff and working environment as well as the efficiency of its operations and service to stakeholders.
Polaris Bank had in the wake of the outbreak of COVID 19 activated its Business Continuity Plan (BCP) which ensures that it can maintain its operations and enable financial transactions, even during critical incidents “The Bank had suspended all corporate events, travels, and outdoor activities as well as enforced social distancing which ensured that all staff who have just returned from travels outside Nigeria are placed on self-isolation.
Polaris Bank in line with its Corporate Social Responsibility & Sustainability Policy has continued to integrate social and environmental issues into its business operations intervening in the activities of its stakeholders, including staff, customers, government and local communities.
Polaris Bank is a future-determining Bank and a member of the United Nations Environment Programme Finance Initiative (UNEP FI) which seeks to engage the private sector and the global financial sector to help create a financial sector that serves people and planet while delivering positive impact.
Why Access Bank is Asking Customers Who Visited One of its Branches to Self Quarantine
As the dreaded Covid-19 continues to take its toll on human lives and businesses, Access Bank Plc has announced the temporary closure of one of its branches in Lagos State after a customer tested positive for coronavirus
According to a Daily Post report, a the bank has confirmed that one of it’s customer, who visited its Ligali Ayorinde branch in Victoria Island, Lagos tested positive for Coronavirus.
Consequently, Access Bank in a statement advised anyone who came into the bank for transactions in the last 14 days to self-quarantine.
Nigerian Centre for Disease Control on Monday announced the first fatality of the disease on Nigerian soil. The center also confirmed 36 cases of patients with COVID-19 as Nigeria Centre for Disease Control (NCDC).
The first person to have died of coronavirus as announced by NCDC is now known to be a 67-year-old man who returned to the country following medical treatment in the United Kingdom, UK
The victim’s identity was revealed to be a former Managing Director of Pipelines and Products Marketing Company (PPMC), Suleiman Achimugu.
A statement from Access Bank reads : “We have confirmed that an individual who visited our Ligali Ayorinde branch on Monday 16th March 2020, has tested positive for Coronavirus.
He was symptom-free as at the time of visit and he is currently being monitored at an Isolation Centre in Yaba.
“It is advised that anyone who visited the branch in the last week should self-quarantine for a period of 14 days starting immediately. Persons who had any contact with the concerned individual are currently in isolation.”