The Honourable Minister of Industry, Trade and Investment in Nigeria, Dr. Doris Uzoka-Anite, has emphasized the pivotal role of the automotive sector in the revitalization of the country’s economy. During the Nigeria Auto Industry Summit in Lagos, she articulated the potential for the automotive industry to establish Nigeria as a leading hub for automotive manufacturing on the African continent.
Dr. Uzoka-Anite underscored the government’s dedication to attracting both local and foreign investments to bolster vehicle assembly and production. Additionally, she emphasized the significance of cultivating partnerships with private sector stakeholders to propel the development of the automotive industry, harnessing the strengths of both sectors to achieve common objectives.
Recognizing the impending challenges, such as insufficient access to finance, limited local content, and policy inconsistency, the minister assured that the government is committed to collaborating with industry stakeholders to surmount these obstacles and foster a conducive environment for growth. This commitment encompasses investing in critical infrastructure, including roads, ports, and power supply, to support the logistics and operational requirements of the automotive industry.
According to Dr. Uzoka-Anite, the enhancement of infrastructure will not only reduce production costs but also enhance the competitiveness of locally manufactured vehicles. She emphasized the potential for a flourishing and sustainable automotive industry to drive Nigeria’s economic resurgence and ensure a prosperous future for all.
Joseph Osanipin, Director General of the National Automotive Design and Development Council (NADDC), echoed Dr. Uzoka-Anite’s optimism, highlighting the promising future of the Nigerian automotive industry. He delineated the agency’s plans for continued collaboration, innovation, and a commitment to local production of parts, investment in auto industrial parks, and provision of an affordable credit scheme.
Osanipin also cited the inauguration of the Implementation Committee of the 2023 National Automotive Industry Development Plan (NAIDP) and the adoption of locally assembled CNG-powered vehicles by the Federal Government as evidence of its commitment to the sector’s development.
In conclusion, the collaborative efforts between the government and industry stakeholders, coupled with investments in infrastructure and innovation, exemplify a clear pathway towards the growth and prominence of the Nigerian automotive industry. The potential for job creation, economic stimulation, and global competitiveness positions the sector as a key driver of Nigeria’s future economic success.