South African Bank to Make Automobile Loans Available Before Dec –FG 

The federal government has said soft car loan will be available to Nigerians who wish to purchase made in Nigeria cars before the end of the year.
The Director General of the National Automotive Council, Abuljalil Aminu, gave this indication while briefing newsmen at the quarterly meeting of the parastatales and agencies under the Ministry of Industry, Trade and Investment yesterday in Abuja. What we have seen in other climes is that producers of automobiles also finance the purchase of their products. We are at the MOU signing stage with a South African bank that will bank roll this facility in the country before the end of 2014.  We have followed through  with the public hearing, we are concerned that the bill has not moved at the speed we would have wanted as it is where it was after the public hearing despite assurance from the legislators to expedite action on the Bill.

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