Requirements For Automative Assembly Operation and Development Fund/Loan in Nigeria

Requirements For Automative Assembly Operation and Development Fund/Loan in Nigeria

The National Automative Design and Development Council (NADDC) issued out guideline and Requirements For Automotive (CKD/SKD) Assembly Operation In Nigeria base on the ease of doing business in Nigeria rolled out by Acting President Prof. Yemi Osinbajo weeks ago.

The requirements and development fund/loan is as mentioned below as presented by NADDC.

INVESTMENT IN THE NATIONAL AUTOMATIVE INDUSTRY INVESTMENT PLAN (NAIDP)

Requirements For Automative (CKD/SKD) Assembly Operation in Nigeria

Acquisition of a suitable assembling space either owned or long lease with proof;

A duly endorsed technical agreement for assembling with a clearly defined local content clause or provision with Original Equipment Manufacturer (OEM) (direct investment by OEM as lead partner is preferred);

An assembling process flow chart based on the space acquired with work stations clearly identified;

A comprehensive list of equipment for the purpose of assembling and in-house engineering work and fabrication work if any;

State clearly the packing list of SKD/CKD kit import;

Certificate of Incorporation and

Tax clearance certificate

Timeline:
If applicants comply with all requirements, processing will be completed in two (2) weeks to Federal Ministry of Finance.

NADDC AUTOMOTIVE DEVELOPMENT FUND

Requirements for Automotive Development Fund (NADDC-ADF) Loan

Payment of N10,000 to NADDC TSA account for NADDC-ADF loan form processing;

Download form from NADDC website (www.naddc.gov.ng);

Preparation of feasibility study for loan by the promoter;

Submission of the form with 10 copies of feasibility studies with the attachments;

Visitation to the company to ascertain the status;

Evaluation of the loan proposal to determine the viability or otherwise of the project i.e. the evaluation of Financial, Technical and Economic viability of the project;

Recommendation of the evaluation to the Bank of Industry;

Bank of Industry’s independent appraisal of the project;

Bank of Industry’s recommendations to the Council;

NADDC concurrence to the Bank of Industry’s recommendation;

Bank of Industry’s disbursement of the loan.

Timeline:
Processing to Bank of Industry (BOI) will be completed in two weeks after compliance with requirements.

NADDC PROCUREMENT
Compliance With 40% Procurement for Locally Made Goods and Services.

Contract procurement in NADDC is subject to strict compliance with 40% provision for Nigerian made goods and services.

Customer Care Desk and Call Centre: Information Public Relation Unit (IPRU),
Telephone No. +234(0)92913782-3;
Focal Officer: Mr. Bako Salihu, +234(0)8035987469
Alternate Focal Officer: Engr. Olu Ibhadode, +234(0)8067260519

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