Nigeria not ready for automotive industry law – Mark

former Senate President, David Mark
former Senate President, David Mark

The Senate President, David Mark, on Thursday said Nigeria was not ready for the Nigeria Automotive Industry Bill.

Mr. Mark said he did not think Nigeria had the right resources to implement the law if passed.
He spoke during deliberation on the Nigeria Automotive Industry Development plan (Fiscal Incentives, assurance and guarantees) Bill which passed its second reading on Thursday.

Victor Ndoma-Egba (SAN) representing Cross River Central Senatorial District, the senate leader, sponsored the bill.

The objective of this bill is to create revenue and expand the automobile market in Nigeria.

Mr. Mark said the bill was a good one without doubt but it won’t solve the problem in Nigeria’s automotive industry.

He said Nigeria was not prepared for the bill to be carried out because no investor would put his money were 24 hours power was not guaranteed.

He said a good foundation had not been laid to enable the bill become a success.

“This is an excellent bill, we should pass it. We are missing the point not by this bill but you know because we have not laid the foundation for which this bill can become sustainable.

“I believe that the implementation is very important and unless we get these other factors together, this will remain absolutely good on paper but in practice it is going to be very difficult to get it right.

“China has protectionist policy; today, everybody is going to China. India has protectionist policy, there is no country does not have the protectionist policy but we abandon our own because we have failed in several other areas,” he said.

Mr. Egba, the sponsor of the bill, said there was a huge automobile market in Nigeria and the bill would create opportunities to increase the standard of living of citizens and earn great revenue for the country.

He also said the objectives – income tax relief, tariff re-adjustment, administration and assurances would enhance the prospects of development of automotive in Nigeria.

Mr. Ndoma-Egba said about 400,000 vehicles worth over N550 billion were imported into the country in 2012.

“A total of about 400,000 vehicles – 100,000 new and 300,000 used – valued at over N550billion were imported in 2012. The Bill will thus facilitate the injection of foreign direct investment into the economy,” he said.

In concluding, Mr. Mark commended the government for its good work.

“We should commend government but we must let government know that for this bill to be meaningful, a few other things must be out in place, almost immediately along this bill.

“Sincerely, I agree that this government is doing very well and we are doing our best so that we implement these bills that we pass,” he said.


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  • Rico

    All of a sudden, David Mark started talking, this is the second time he will talk about FG in 24hrs, and all about not doing it right, the govt he is part of as the number three man in the country, i smell something. Once a Maradona boy, always maradonic himself.

  • Otile

    Dauda Mak is a retrograde. He is part of the Northern oligarch that holds Nigeria down. He once told us that Nigeria was not ready for the cellular phone, but little did he know that where there’s a will there is a way. Are we going to wait till his generation of corrupt politicians to die off before Nigeria can move forward? Why can’t the Northern leaders be futuristic for once? This is a golden opportunity for Nigeria to shine and perhaps become the automotive giant of Africa, but once again a Northern leader has become a cog in the will of progress. It is on record that when Zik and Awo moved for independence the Northern leaders opposed the move insisting that Nigeria was not ready for independence. With the mentality of Northern leaders so set backward how can Nigeria move forward? Take away corruption the power sector he is using as an excuse will go away. Amen amen I say unto you Nigeria does not need these brand of backward looking leaders.

  • Ogota

    David mark , you will never change and God will purnish you and your entire generation for contributing to nigeria woes. It is the same you that said Cellular is not for poor Nigerians , the same you that said we are not ripe for electronic voting system and you also once said the Nigerians in diaspora should wait for sometimes before they could vote. You will perish with your entire generation