The Director-General, National Automotive Design and Development Council (NADDC), Joseph Osanipin has said that the Federal Government’s proposed End of Life Vehicle (ELV) policy will generate about N150 billion annually if put into use.
Osanipin who stated this during a media parley in Abuja, said the cash will come from vehicle parts recycling and recovery of motor parts.
He said the project is designed to create a framework for disposing recycled vehicles parts that are no longer road worthy, stating that with time, the policy will require vehicle owners to pay a modest fee at the point of registration, which will support an ecosystem dedicated to the environmentally safe dismantling, recycling and recovery of vehicle components.
“Over 85 per cent of components from end-of-life vehicles are either reusable or recyclable, as such materials currently go to waste. Instead of abandoning vehicles by the roadside, people can turn them in and value can be created out of them.
“The circular economy associated with this run into billions of naira and the ELV framework will also stimulate the development of second-hand parts markets and create employment opportunities across the country. Nigerians should note that environmental and public health considerations were the main motivations behind the policy,” he said.
The DG explained that the most important reason for the ELV is keeping the environment clean and ensuring the health status of the people and the communities, adding that introduction of small fees under the policy could meet resistance, but assured that public awareness campaigns would be intensified.
Sometimes, what is good for you, if you are not told, you may not be willing to accept it. Therefore, there is the need for media support in educating the public on the long-term benefits of this policy.
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