Nigeria is once again at the fore front in manufacturing development with the launch of the Peugeot 301 in commercial quantity. The unveiling of the car took place on Saturday at the Peugeot Components Auto Cluster Park in Kaduna.
Statics show that Nigeria spends the sum of 4.2 billion Naira on importation of vehicles in 2010 alone and higher figures in 2011 and 2012 boosting the economy which produce these cars.
To ensure that the growth of the Nigerian economy and to create more jobs, the Federal Government of Nigeria introduced the automotive policy that would support the establishment of automobile companies in Nigeria and the revival of the metal steel and tyre manufacturing industries. This has started yielding some results.
The manufacturing of the Peugeot vehicle has placed Nigeria in the league of automobile producing countries.
A representative of the Federal Government at the unveiling said that the government would launch a vehicle financing scheme to make funds available to Nigerians for the purchase of made in Nigeria vehicles under the new automotive policy.
The Minister said that the scheme would be launched within four months and would involve the collaboration of local and foreign banks.

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