Nigeria Spent $4.2 Bn On Importation Of Cars in2010 – Maku

[Shola Sholaz]

Abuja – The Federal Executive Council (FEC) on Wednesday in Abuja approved the Automotive Industry Development Plan for the development of the nation's automotive industry.
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The Minister of Information, Mr Labaran Maku, told State House correspondents after the weekly FEC meeting, presided over by President Goodluck Jonathan, that the plan was expected to attract investment to the sector.
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According to him, a transformed automotive industry will realise its potential as a major driver of economic growth and diversification, job creation, local value addition, and technology acquisition.
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"The most important discussion which took most of our time was the presentation to Council of a broad policy plan to develop the Nigerian automotive industry.