Worried by issues of low production level and insufficient use of local content impeding the growth of the Nigerian automotive industry, stakeholders have called for the enactment of the National Automotive Industry Development Plan, (NAIDP) to drive growth.
This was part of the outcome of the stakeholders’ engagement with the National Automotive Design and Development Council (NADDC) in Lagos recently.
NAIDP took centre stage in the extensive deliberations as all stakeholders stressed the need for legislative endorsement of the policy to ensure its sustained functionality and proper implementation.
Doris Nkiruka Uzoka-Arite, minister of Industry, Trade and Investment, who spoke via Zoom, urged the participants to target the initiative of the forum at propelling the nation to the global manufacturing pedestal.
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“The auto industry is key to achieving economic diversification, and this is in line with the mandate of the ministry to ensure full diversification and full industrialisation of the economy,” she said.
To facilitate market access and market expansion, she assured of engagement with different economic players to ease the difficulties in doing business and allow local manufacturers to participate and benefit from the opportunities in the African Continental Free Trade Agreement (AfCTA) especially in the area of exporting their products.
Earlier, Joseph Osanipin, director general of NADDC, said the NAIDP is a critical pillar of the government’s effort to transform the automotive sector and position it as a key driver of economic growth and job creation.
“The plan is designed to address the key challenges facing the sector such as low production level, insufficient local content, and limited access to financing,” he said.
Osanipin maintained that the NAIDP 2023 is a comprehensive and ambitious plan that seeks to align local policies with AfCTA in such a manner that would allow the industry to compete favourably on the continental and eventually global levels.
He said the policy would ensure sustainability and environmental responsibility as it offers incentives in the area of the production of CNG and electric–powered vehicles.
Reacting during the interactive session, Bawo Omagbitse, chairman of the Nigerian Automobile Manufacturers Association (NAMA), on behalf of the stakeholders expressed their appreciation to NADDC for putting up the forum.
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He said the Automobile Manufacturers Association is eager to work closely with NADDC and other relevant authorities for proper implementation of the Auto Policy, adding that NAMA would develop an internal guidance system to ensure the members operate by the rules and regulations provided in the NAIDP document.
The NAIDP Stakeholders Meeting was put together by the Council to address the challenges and harness the prospects for effective implementation of the 2023 Auto Policy.
It is expected that the fallout of the forum will result in a more vibrant and sustainable automotive industry in Nigeria.
NADDC organised the meeting to position the Nigerian automotive industry as one of the leading auto manufacturing nations and to brainstorm on possible ways of promoting the industry.
