FG wants to give interest free cars to Nigerians (Day 460)

By on August 31, 2016

The Nigerian Bureau of Statistics, NBS, has disclosed that in the second quarter of 2016, a total of 4.58 million Nigerians became unemployed.This is against the promises made in 2015 during the campaign.

Buhari has approved the appointment of a substantive Managing Director/Chief Executive Officer and two Executive Directors for the Niger Delta Power Holding Company Limited (NDPHC). Joseph Chiedu Ugbowho was in an acting capacity is now the substantive Managing Director/Chief Executive Officer of the company.

The National Automotive Design and Development Council (NADDC) says the Federal Government is to launch a Vehicle Credit Acquisition Scheme to help Nigerians purchase locally assembled vehicles.

He said that the council would contribute about N7.5 billion interest free fund to the scheme with counterpart funding from a company in South Africa to help Nigerians have brand new vehicles. He said that the South African company would provide more of the funds for the scheme in conjunction with the African Development Bank (AfDB). Mamudu said that Nigeria had the capacity to produce 384,000 units of vehicles annually. “Unfortunately, the country only produced 25,000 units in 2015.

The Minister of Transportation, Rotimi Amaechi, has given an assurance that the Calabar-Port Harcourt Coastal rail line and the Lagos-Kano rail modernisation project would be completed before the end of 2018.

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