The Federal Government is set to begin the manufacturing and supplying of tyres, batteries, brake pads and other automobile components as part of efforts to boost the Nigerian automotive industry.

It said the policy aims to boost the supply of local components to auto part markets by 40 per cent.

The Minister of Industry, Trade and Investment, Doris Aniete, disclosed this initiative at the ministerial sectoral briefing to mark President Bola Tinubu’s one year in office on Tuesday in Abuja.

She said the programme would be in collaboration with manufacturers, dealers regulatory bodies and other players in the automobile ecosystem.

The Nigerian automobile industry for a long time has been dependent on imports to meet local demands for vehicles and spare parts.

The minister also emphasized the significance of local automotive components, highlighting the potential for significant foreign exchange savings through domestic production of parts.