The Federal Government has announced plans to launch a Vehicle Finance Scheme that would help Nigerians own new cars.
Director-General of the National Automotive Design and Development Council (NADDC), Mr Jelani Aliyu disclosed this on Tuesday.
He said the gesture is part of the 5-point comprehensive programme of the National Automotive Industry Development Plan (NAIDP) which is aimed at promoting local production of vehicles and their parts.
He said under the scheme, individuals with a sustainable source of income would be able to acquire their choice car by depositing just 10% of the total cost and then the balance would be paid in monthly instalments within a stipulated number of years.
He explained that the council has worked out proposal “and once they give us that go ahead, we will start the project because we have the money set aside for it.
“The targeted beneficiaries will be any Nigerian who can prove that they have a sustainable income, whether you work in the civil service, in the private sector or you are doing your own business,” he said.
