fund for the automobile sector.
The Director-General of the NADDC, Jelani Aliyu yesterday in a chat with journalists in Abuja, said the intervention fund had become imperative to support the vehicle financing scheme, which is being worked on by the Council. This was part of the 5-point comprehensive programme of the National Automotive Industry Development Plan , which aimed at promoting local production of vehicles and their parts.
“On vehicle financing, we are in talks with banks. We are going after terms that will be very conducive for people. Single-digit interest rate and we are talking about no more than 10 per cent and being able to pay over at least, five years and more.
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