Ortom said following the commencement of the new auto policy, the Federal Government had received a lot of interest from vehicle manufacturers.
This, according to him, is a demonstration of the confidence that investors have about the new auto policy.
As a way of sustaining the policy, he said the Federal Government would be reviewing it periodically to make it more effective.
The minister said, “The automotive policy is derived from the National Industrial Revolution Plan, and we are happy with the response we have been getting from the automotive industry worldwide; and with your coming, it shows that this policy is working.
“When the policy was introduced, people criticised it and most of them do not understand the benefit of the policy. We have had several stakeholders from the automotive industry approaching us to set up assembly plants and spare parts plants in the country.
“I want to assure up you on behalf of the government that we will do everything to make sure the policy succeeds.”
Also speaking at the meeting, the Managing Director, Peugeot Automobile Nigeria Limited, Mr Ibrahim Boyi, said the company would be unveiling its first set of locally assembled vehicles in June.
He said the move was part of efforts aimed at supporting the new auto policy of the Federal Government.
Boyi said the full implementation of the new auto policy would revolutionise the growth and development of the nation’s industrial sector.
For instance, he said as a result of the policy, the management of the company had decided to resuscitate its assembly plants in order to meet the huge demand for locally manufactured vehicles.
The PAN boss said, “The leadership of AP France is here and this is the commitment of the leadership to the Nigerian market.
“With the development of the new auto plant, we have received tremendous support from AP France and they have shown a lot of commitment to support the policy and in that respect, we have already outlined technical activities to commence assembly operations in Nigeria as a result of the new policy.
“We are hoping that our first assembly cars will come out from our plants by June this year.”
Also speaking, Moulin commended the Federal Government for coming up with the policy as it would help to stimulate investment in the auto industry.
“There is a huge potential in Nigeria; you have a very young population, talented and educated people. With this and with the good regulation to build the local industry, and with a clear vision, we will be able to add value, create employment and attract suppliers,” he said.