NADDC Canvasses Tax Waiver for Local Vehicle Manufacturers to Make Prices Competitive

The National Automotive Design and Development Council (NADDC) has called for a tax waiver for local vehicle manufacturers who import raw materials into the country. The council made the call during an oversight visit by its Director General, Otunba Joseph Oluwemimo Osanipin, and Board Chairman Chief Emma Eneukwu, to Innoson Vehicle Manufacturing and Kojo Motors Plant in Nnewi and Umunya, Anambra State. The team expressed satisfaction at the level of innovation at both companies, especially in clean energy vehicles such as Electric Vehicles and Compressed Natural Gas vehicles. However, they noted complaints of high tariffs on imported raw materials, which push up vehicle costs and leave local manufacturers unable to compete.

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