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NAC, WesBank, meet over national vehicle finance scheme

The officials of the National Automotive Council (NAC) and WesBank of South Africa, have met in Abuja on the proposed roll-out of Made-in-Nigeria vehicle finance scheme later in the year.

NAC was led in the deliberation by its Director-General, Mr Aminu Jalal, the Director, Policy and Planning, Mr. Luqman Mamudu and Director, Industrial Infrastructure, Mr. Waheed Odetoro to discuss the scheme.
The WesBank delegation comprised of Mr. Eugene Ochse, Head, Africa Operations and Mr. Simon Ingersent, designated CEO for Nigeria Operations.
It said the WesBank officials also interacted with potential partners, including selected vehicle dealers to obtain firsthand information and get acquainted with dealership practices peculiar to Nigeria.
The statement said that NAC scheme was designed around a network of vehicle dealers and distributors for the pilot project.
The MoU mandates WesBank to manage consumer vehicle financing for Nigerian assembled vehicles.
It also quoted Jalal as saying that the Nigerian government approved the Nigerian Automotive Industry Development Plan (NAIDP), to attract investments from global vehicle manufacturers and to grow the supply of locally-manufactured vehicles.

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