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Auto assemblers seek N100bn intervention fund for vehicle acquisition

Published

2 years ago

June 30, 2024

Auto assemblers seek N100bn intervention fund for vehicle acquisition

Automakers and assemblers have called on the Federal Government to urgently put N100 billion intervention fund into a vehicle finance scheme to enable Nigerians to buy new vehicles and revive the industry.

This, they contend, will also speed up the development of the nation’s economy.

This view was canvassed at the Nigeria Auto Industry Summit held last Thursday in Lagos, where Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, said automotive sector holds the key to reviving Nigeria’s economy and positioning the nation as a hub of automotive manufacturing in Africa.

The summit was organised by the Nigeria Auto Journalists Association (NAJA) in collaboration with the National Automotive Design and Development Council (NADDC) under the theme: ‘Developing Nigeria‘s Economy through the Auto Industry’.

Those who canvassed the view included an ex-Director of NADDC, Mr Luqmam Mamudu, Head Sales, Marketing and Logistics at Honda Automobile Western Africa Ltd, Remi Adams, and General Manager, Marketing & Corporate Communications at Coscharis Group, Abiona Babarinde.

They sought urgent government’s intervention in the auto finance scheme in order to make the industry vibrant.

The Federal Government on a number of occasions, according to Adams, has failed to keep its promise of bringing in commercial banks including a foreign bank to handle a proposed auto finance scheme using funds pulled from levies collected on imported vehicles.

Mamudu lamented that only two per cent of vehicles assembling capacity in Nigeria put at 500,000 vehicles per annum was currently being utilised.

He stressed the need to create the needed demand for such new vehicles and others through a sustainable auto finance scheme.

“Government should create an intervention fund of N100 billion for provision of affordable vehicle acquisition Loans,” he said.

While Mamudu wants the loans directed only to commercial vehicles fleet operators initially to flood Nigeria with shared car services, buses and trucks, others said it should be made open to all intending new vehicle buyers.

“Credible mobility private credit companies with verifiable track records in Nigeria should be identified and invited to participate in this revolving loan scheme.

“The scheme should be supervised by Security and Exchange commission (SEC),” Mamudu, now a automobile industry consultant, stated.

The stakeholders also called for adequate management of used vehicles importation through tariff so as to allow for consistent development of the nation’s automotive industry.

Speaking on the revival of the industry, a board member of Nigeria Automobile Manufacturers Association, Mr Benedeth Ejindu, stressed the need to pass the National Automotive Industry Development Plan (NAIDP) into law to engender investor confidence and breathe new life into the sector.

The Federal Executive Council (FEC) in May 2023 approved the NAIDP.

The system is expected to generate one million jobs and enforce patronage of locally produced vehicles by government and companies working on government contracts.

According to Ejindu, there is also the need to develop and implement an automotive raw material development and component manufacturing master plan.

“There is the need to revive battery, and glass manufacturing as a precursor to revamping local manufacture of welded parts (exhaust system, seat frames), elect Parts (batteries, trafficators, wiring harness).

“Others are plastic and rubber parts such as tyres, tubes, fan blades, seat foam, oil seals, radiator, cables, filters, brake pads/linings, windscreens, side glasses, fibre-glass parts and paints,” he said.

The Nigeria Customs Service, Lagos Chambers of Commerce and Industry (LCCI) and the Nigerian Automotive Manufacturers Association (NAMA) made presentations at the summit.

The stakeholders agreed on the need for collaboration and periodic meetings to harmonise different positions and strategies to avoid working at cross purpose for speedy progress of the industry and national economy.

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Auto

Jetour Set to Storm Abuja Show with Rugged Luxury T2

Published

7 hours ago

September 17, 2026

Trends Admin

Jetour Set to Storm Abuja Show with Rugged Luxury T2

Abuja is set for a taste of rugged luxury as Jetour Nigeria puts its adventure-ready T2 SUV in the spotlight at the Jetour Experience Abuja from September 22 to 24, 2026, giving motorists in the Federal Capital Territory and neighbouring states an opportunity to test its blend of off-road capability, premium comfort and advanced technology.

The three-day showcase at Maha Event Centre, Area 8, Garki, will feature test drives, live demonstrations and direct interaction with Jetour product specialists, offering prospective buyers a closer look at the T2 and other models in the automaker’s growing Nigerian line-up.

Positioned as a premium SUV combining off-road capability with comfort and advanced technology, the Jetour T2 is designed for motorists seeking a vehicle capable of handling both city driving and challenging terrain.

Jetour Nigeria is distributing the T2 and other models via its seven accredited dealers — Elizade Nigeria Limited, New Era AutoVehicle Services Limited, Germaine Auto Centre, Kojo Motors, Mandilas Autos, R.T. Briscoe Motors and Tab Autos Limited.

The T 2 SUV is powered by a 2.0-litre turbocharged engine producing 254 horsepower and 390 Nm of torque. The engine is paired with a seven-speed dual-clutch transmission and BorgWarner sixth-generation intelligent four-wheel-drive system.

It also features five driving modes — Eco, Sport, Mud, Rock and X Smart — designed to provide improved adaptability across different road and terrain conditions.

Measuring 4,758mm in length, 2,006mm in width and 1,880mm in height, the SUV offers 220mm ground clearance and a 70-litre fuel tank, giving it the capability for extended journeys and off-road adventures.

Inside the cabin, the T2 combines rugged styling with modern comfort, featuring ergonomic seating and a 15.6-inch touchscreen infotainment system with Apple CarPlay, Android Auto and intelligent voice control.

Its safety and driver-assistance features include a 360-degree panoramic camera, rear parking sensors, Lane Departure Warning, Blind Spot Detection, Anti-lock Braking System and Emergency Brake Assist.

The SUV also comes with off-road crawl control as well as push-button and remote-start functions.

The Abuja experience follows Jetour Nigeria’s recent showcase in Lagos as the automaker continues to expand its presence and customer reach across the country.

With its combination of performance, technology, safety and luxury, the Jetour T2 is expected to attract motorists seeking an SUV capable of combining everyday urban mobility with adventure and off-road driving.

Auto

Jetour Targets Abuja Market with X70 PHEV as Nationwide Expansion Gathers Pace

Published

2 days ago

September 15, 2026

Trends Admin

Jetour Targets Abuja Market with X70 PHEV as Nationwide Expansion Gathers Pace

Jetour Nigeria is taking its hybrid SUV offensive to Abuja, with the X70 Plug-in Hybrid Electric Vehicle (PHEV) set to headline the three-day Jetour Experience from September 22 to 24 as the automaker accelerates its drive to expand its footprint and capture a larger share of Nigeria’s fast-evolving mobility market.

The Abuja showcase, coming on the heels of a strong Lagos edition that generated significant consumer interest, test drives and sales enquiries, is designed to bring Jetour’s latest technologies closer to customers in the Federal Capital Territory and neighbouring states.

The event at Maha Event Centre, Area 8, will give prospective buyers and auto enthusiasts the opportunity to test-drive the X70 PHEV and other Jetour models while interacting with product specialists and experiencing their technology, safety features, performance and comfort firsthand.

According to the company, expanding the showcase to the Federal Capital Territory was a direct response to rising demand from residents in Abuja and neighbouring states.

Jetour Targets Abuja Market with X70 PHEV as Nationwide Expansion Gathers Pace

Auto

X90 Plus Leads Jetour’s Abuja Drive for Bigger SUV Market Share

Published

4 days ago

September 13, 2026

Trends Admin

X90 Plus Leads Jetour’s Abuja Drive for Bigger SUV Market Share

Jetour Nigeria is taking its premium SUV battle to Abuja, with the seven-seater X90 Plus set to headline the Jetour Experience Abuja from September 22 to 24, as the automaker moves to capture a larger share of Nigeria’s fast-growing high-end family SUV market.

The three-day motoring showcase will give prospective buyers, families and auto enthusiasts in the Federal Capital Territory and neighbouring states an opportunity to experience the X90 Plus and other models in the Jetour range through test drives and hands-on demonstrations.

The Abuja showcase follows the success of the brand’s earlier Jetour Experience in Lagos, where strong customer interest, inquiries and sales momentum reportedly encouraged the company to take the initiative to the Federal Capital Territory.

Jetour Nigeria said growing demand from customers in Abuja and neighbouring states was a major factor behind the decision to expand the experience to the northern market.

Positioned as a full-sized family SUV, the X90 Plus is designed for executives and families seeking a combination of space, technology, performance and comfort without the price tag associated with some luxury SUVs.

The model is offered with 1.6-litre and 2.0-litre turbocharged engines paired with a seven-speed dual-clutch transmission. The powertrain produces up to 254 horsepower and 390Nm of torque.

Inside the cabin, the X90 Plus features a 12.3-inch LCD touchscreen infotainment system, panoramic sunroof, Sony premium audio system and wireless charging.

Its safety and driver-assistance features include a 360-degree panoramic camera, Forward Collision Warning, Lane Departure Warning and electronic stability systems.

Jetour’s growing profile in Nigeria has also earned the brand recognition from the Nigeria Auto Journalists Association (NAJA), which named it Fastest Growing Auto Brand, while it was also recognised as Auto Brand of the Year at the Nigeria Transport Lecture.

To support its expanding customer base, Jetour Nigeria, the sole authorised distributor, operates through seven accredited dealer partners across the country: Elizade Nigeria Limited, Mandilas Autos, R.T. Briscoe Motors, Germaine Auto Centre, Kojo Motors, Tab Autos Limited and New Era Auto Vehicle Services Limited.

The Abuja Experience is expected to provide Jetour with another platform to engage potential customers and reinforce its position in Nigeria’s increasingly competitive SUV market.