The Ministry of Industry, Trade and Investment, in collaboration with the National Automotive Design and Development Council (NADDC), has inaugurated $1 billion locally-assembled vehicles.
The vehicles were produced by 17 firms. They include Coscharis, Nissan, Innoson, Ford and Elizade Motors, which are pioneering made-in-Nigeria vehicles.
The Minister of Industry, Trade and Investment, Mr Adeniyi Adebayo, said on Monday in Abuja that the Nigeria-produced vehicles in Abuja would also later be used at the Argungu Motor Rally’.
The first-ever Argungu Motor Rally would be kicked off by President Muhammadu Buhari in Abuja.
Adebayo said though the rally is an integral part of the Argungu Annual International Fishing and Cultural Festival, the NADDC planned to turn it into a yearly event for the auto industry.
He said Nigeria was moving forward in the area of automotive assembly, adding that from zero production level in 2012, the industry had recorded tens of thousands of newly assembled vehicles.