Fresh hopes for mechanics

It is aimed at providing funds for automotive technicians for acquisition of modern equipment through Micro-Finance Banks at single-digit interest rate. Speaking at the launch in Lagos on Thursday, Minister of State for Trade and Investment, Dr.Samuel Ortom, stated that the scheme is a good opportunity for the nation’s auto-technicians to acquire basic equipment and […]

It is aimed at providing funds for automotive technicians for acquisition of modern equipment through Micro-Finance Banks at single-digit interest rate.

Speaking at the launch in Lagos on Thursday, Minister of State for Trade and Investment, Dr.Samuel Ortom, stated that the scheme is a good opportunity for the nation’s auto-technicians to acquire basic equipment and tools for the repairs of the new generation vehicles in the country.

He implored the technicians to take advantage of the inherent benefits in the scheme and micro finance banks to timely process releases to the mechanics.

‘’The Council’s mission specifies the government commitment to the survival, growth and development of the Nigerian automotive industry, using local human and material resources. Manpower development in the automotive industry is therefore one of the cardinal objectives of the council.

‘’I have been informed of the council’s other efforts in training mechanics with a new curriculum in automotive mechatronics. When these initiatives come to fruition, our mechanics, whom I am told are about two million in number, will have their jobs assured as they will be able to repair new, modern generation vehicles’’

Speaking, Chairman House of Representatives Committee on Industry said the scheme will promote employability of Nigerian mechanics that hitherto were on their way out of jobs due to lack of working tools and competence in modern skills.

Chief Executive Officer of Bank of Industry, Evelyn Oputu said the launch of the scheme marks another important milestone in the continuing efforts of government to develop the automobile sector.

Representative of the participating micro finance banks, Kashim Olarenwaju said the funds should be treated like development fund in order to achieve its set objective faster and better.

‘’The requirements to access the loan are very stringent and expensive; this should be critically reviewed to ensure good success. Majority of the issues still militating against full and quick implementation of the programme have been discussed with the relevant officials at various levels and institutions’’

Speaking, Director-General of National Automotive Council, Engineer Aminu Jalal said some of the participating micro finance banks have accessed the fund and have commenced the procurement of equipment/tools for qualified mechanics.