Vice-President Yemi Osinbajo has said that Nigerians use N2.45tn annually for the importation of vehicles into the country.
Osinbajo said this on Tuesday at the 19th Abuja Motor Fair where he noted that the development is negatively affecting Nigeria’s economy.
He was represented by the Director General of the National Automotive Design and Development Council Jelani Aliyu.
According to him, “The Federal Government is fully committed to industrialization and the mining sector to enable it to create direct and indirect jobs for Nigerians.
“About $8bn goes to overseas countries for the importation of vehicles, while Nigerians are suffering.
“Also, most of the used vehicles imported into Nigeria are unsafe and not good for our citizens.”