Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, said the automotive sector holds the key to reviving Nigeria’s economy and positioning the country as a hub for automotive manufacturing in Africa.
Uzoka-Anite stated this yesterday at the maiden edition of the Nigeria Auto Industry Summit organised by the Nigeria Auto Journalists Association (NAJA) in partnership with the National Automotive Design and Development Council (NADDC) in Lagos.
She said the automotive industry aims to attract both local and foreign investments to vehicle assembly and production.
Uzoka-Anite, who was represented by a director at the Federal Ministry of Industry and Trade and Investment, Olumuyiwa Ajayi-Ade, said the government was fostering collaborations with the private sector stakeholders to drive the development of the automotive industry.
According to her, the partnerships would leverage the strengths of both sectors to achieve common goals.
She said despite the promising outlook, the government acknowledges the challenges that lie ahead and that issues such as inadequate access to finance, limited local content and policy inconsistency must be addressed.
Uzoka-Anite said the government was committed to working with industry stakeholders to overcome the challenges and create a conducive environment for growth.
She said the government was investing in critical infrastructure such as roads, ports and power supply to support the logistics and operational needs of the automotive industry.
The minister noted that improved infrastructure would reduce production costs and enhance the competitiveness of locally manufactured vehicles.
“Together, we can build a vibrant and sustainable automotive industry that will drive Nigeria’s economic revival and ensure a prosperous future for all,” she said.
Director General, NADDC, Joseph Osanipin, said the future of the Nigerian automotive industry is bright.
Osanipin highlighted the agency’s plans for continued collaboration, innovation and a commitment to local production of
parts and patronage, investment in auto industrial parks and provision of an affordable credit scheme.
“We can build a thriving industry that creates jobs, boosts our economy and position Nigeria as a major player in the global automotive landscape.
He said the inauguration of the Implementation Committee of the 2023 NAIDP and the adoption of locally assembled CNG-powered vehicles by the Federal Government is proof of its desire to ensure the development of the automotive sector of the economy, he said.
