The National Automotive Design and Development Council (NADDC) and the Nigeria Auto Journalists Association (NAJA) collaborated to organize the Nigeria Automotive Industry Summit in Lagos. The theme of the event was “Developing Nigeria’s Economy through the Auto Industry.” Director General of NADDC, Joseph Osanipin, highlighted the crucial nature of the summit, as it provided a platform to discuss the current state of the Nigerian automotive industry and chart a course for future success.
Osanipin emphasized the vast potential of the Nigerian automotive industry, driven by a burgeoning population and increasing demand for secure, dependable, and affordable vehicles. However, he acknowledged the significant challenges posed by the country’s reliance on imported vehicles. He stressed that this reliance puts pressure on foreign exchange reserves, hampers job creation, and stifles economic growth. Osanipin advocated for Nigeria to transition from solely being a consumer to also becoming a producer of high-quality automobiles.
Furthermore, he reaffirmed NADDC’s commitment to aligning with President Bola Tinubu’s ‘Renewed Hope Agenda’ by promoting local production and consumption. Osanipin underscored the importance of collaboration and expressed NADDC’s readiness to work with all stakeholders to advance the industry.
Dr. Doris Uzoka, the Deputy Director of the Industrial Development Department, represented the Honourable Minister of Industry, Trade, and Investment at the summit. She emphasized the government’s recognition of the automotive sector as a critical pillar for economic development and recovery. Uzoka highlighted the potential of the automotive industry to drive economic recovery and provide benefits such as job creation and technology transfer, underscoring the labour-intensive nature of the sector and its capacity to create thousands of jobs across the value chain.
She concluded by stressing the importance of collective effort in harnessing the sector’s potential, noting that it can drive technological innovation through global partnerships and the establishment of local research and development centres.
The summit was attended by members of the Nigerian Customs Service (NCS), the Nigerian Automobile Manufacturers Association (NAMA), Automotive Local Components Manufacturers Association of Nigeria (ALCMAN), and Nigeria Auto Journalists Association (NAJA).
In conclusion, the summit called for all stakeholders to collaborate in developing a robust and sustainable automotive industry, essential for Nigeria’s economic revival and long-term growth.