House of Representatives Committee on Industry on Thursday declared support for the Federal Government’s decision to increase tariff on imported vehicles.
The Federal Executive Council recently approved new measures aimed at transforming the automotive sector and ultimately put Nigeria among the league of auto producing countries.
Chairman, House Committee on Industry, Rep. Mohammed Onawo made the declaration in Abuja when his committee visited the Ministry of Industry, Trade and Investment on oversight functions.
He said the introduction of tariff measures to protect indigenous automotive manufacturers would increase the capacity utilisation of the sector.
“The Committee believes that anybody who is going to import complete car should pay higher tariff than somebody who is going to manufacture here,” he said.
He said that was the only way the local industry could be protected.
“The Ministry of Industry, Trade and Investment is one of the most important ministries in terms of helping to diversify our economy.
“We are, therefore, calling on the necessary organs of the government to give special attention to the funding of automotive industry so that our economy can be better,” Onawo said.
He also said that the implementation of the new measures would attract new investments into the sector, protect local automotive manufacturers and create employment.
The Minister of Industry, Trade and Investment, Mr Olusegun Aganga, said at the meeting that the ministry would partner all stakeholders in the implementation of the Industrial Revolution Plan.
He said that the new automobile policy would fast-track industrialisation, create jobs and generate wealth.
“The new measures to transform the automotive sector is part of our Industrial Revolution Plan, which is holistic and based on areas where we have comparative and competitive advantage as a country,” Aganga said