In a recent development, the cost of locally assembled vehicles in Nigeria has been slashed to N35 million, according to the News Agency of Nigeria (NAN). The reduction in cost is attributed to the implementation of the Nigeria First Policy, a government initiative aimed at promoting the domestic automobile industry. NAN reported that the policy has been successful in reducing production costs, making locally assembled vehicles more affordable for Nigerian consumers. The implementation of the Nigeria First Policy is part of the government’s effort to boost the domestic automobile industry and reduce dependence on imported vehicles. It remains to be seen how this development will impact the industry and the Nigerian economy as a whole. The policy is a significant step towards achieving self-sufficiency in the automobile sector, and it is expected to create jobs and stimulate economic growth.
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