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33 automobile firms get N13bn bailout

Thirty-three local automobile companies have received over N13 billion from National Automotive Design and Development Council (NADDC) as part of Federal Government’s initiatives at enhancing the growth of the country’s automotive industry.

The fund was disbursed to the firms through the Bank of Industry (BOI).

Director-General of the council, Aminu Jalal, confirmed this at the closing ceremony of training workshop on “Auto Mechatronics Skills for Modern Motor Vehicle Maintenance” in Abuja.

He disclosed that the council was working towards establishing industrial parks in Lagos, Kaduna and Anambra states where vehicle parts and accessories would be produced towards boosting the sector.

The director general stated that the training was also part of the measures by NADDC in developing the country’s auto sector.

Also speaking, National President, National Association of Automobile Technicians, Ogba Alexander, commended NADDC for the training and called for more programmes that would enhance the growth of the sector.