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