NADDC canvasses tax waiver for local vehicle manufacturers

The National Automotive Design and Development Council (NADDC) is urging for tax waivers for local vehicle manufacturers who import raw materials into the country. During a recent oversight visit to Innoson Vehicle Manufacturing and Kojo Motors plants in Anambra State, NADDC Director General, Otunba Joseph Oluwemimo Osanipin, and Board Chairman, Chief Emma Eneukwu, expressed satisfaction with the innovative technologies being developed, including electric vehicles (EV) and compressed natural gas (CNG) vehicles.

However, the council is concerned about the high tariffs imposed on imported raw materials, which increases production costs and hinders local competitors from competing with imported vehicles. Osanipin emphasized the council's intention to address these concerns and advocate for zero duty on raw material imports. Board Chairman, Chief Emma Eneukwu, further suggested imposing heavy taxation on imported fully built vehicles to encourage local production and keep prices affordable for consumers.

The council supports the Federal Government's "Nigeria First" policy, which aims to promote local manufacturing and consumption.