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NADDC Releases Requirements For Automotive Assembly Plant’s Approval And Operating Loans

Published

8 years ago

June 13, 2017

NADDC ISSUES EASE OF DOING BUSINESS AND LOCAL CONTENT PATRONAGE GUIDELINES, IN COMPLIANCE WITH THE RECENT FEDERAL EXECUTIVE ORDER 2017 SIGNED BY HIS EXCELLENCY, THE ACTING PRESIDENT, PROFESSOR YEMI OSINBAJO, GCON.

FEDERAL EXECUTIVE ORDER 2017
NADDC EASE OF DOING BUSINESS AND LOCAL CONTENT PATRONAGE GUIDELINES

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

1. INVESTMENT IN THE NIGERIAN AUTOMOTIVE INDUSTRY INVESTMENT PLAN (NAIDP)
a) Requirements For Automotive (CKD/SKD) Assembly Operation In Nigeria
i. Acquisition of a suitable assembling space either owned or long lease with proof;
ii. 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);
iii. An assembling process flow chart based on the space acquired with work stations clearly identified;
iv. A comprehensive list of equipment for the purpose of assembling and in-house engineering work and fabrication work if any;
v. State clearly the packing list of SKD/CKD kit import;
vi. Certificate of Incorporation;
vii. Tax clearance certificate
b) Timeline:
If applicants comply with all requirements, processing will be completed in two (2) weeks to Federal Ministry of Finance.

2. NADDC AUTOMOTIVE DEVELOPMENT FUND
a) Requirements for Automotive Development Fund (NADDC-ADF) Loan
i. Payment of N10,000 to NADDC TSA account for NADDC-ADF loan form processing;
ii. Download form from NADDC website (www.naddc.gov.ng);
iii. Preparation of feasibility study for loan by the promoter;
iv. Submission of the form with 10 copies of feasibility studies with the attachments;
v. Visitation to the company to ascertain the status;
vi. 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;
vii. Recommendation of the evaluation to the Bank of Industry;
viii. Bank of Industry’s independent appraisal of the project;
ix. Bank of Industry’s recommendations to the Council;
x. NADDC concurrence to the Bank of Industry’s recommendation;
xi. Bank of Industry’s disbursement of the loan.

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

3. NADDC PROCUREMENT
a) 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.

Issued by:
National Automotive Design and Development Council (NADDC), Abuja.
June 13th, 2017