The National Automotive Design and Development Council (NADDC) has hinted that  is in discussion with development banks and other partners for funding support for the auto industry, estimated at between $1trn and $5trn.

The NADDC Director-General Oluwemimo Joseph Osanipin said this in an interactive session with journalists in Abuja. 

Explaining the critical role funding plays in the auto industry, Osanipin said the dearth of funding slows the pace of growth of Nigeria’s auto industry, noting that his council was in high-level discussion with the banks. 

Speaking on the Council’s plans for the accreditation and certification of Compressed Natural Gas (CNG)-powered vehicle conversion workshops in Nigeria, Osanipin said the Council will use National Occupational Standard (NOS) to train Nigerans.