President of the Association of Automobile, Boatyards, Transport Equipment and Allied Employers of Nigeria (AABTEAN), Adekunle Jaiyesimi, has applauded the leadership of the National Automotive Design and Development Council (NADDC) for improving engagement with stakeholders across the automotive industry.

Speaking at the association’s 46th Annual General Meeting (AGM) in Lagos, Jaiyesimi said the council’s current leadership had brought a more inclusive and collaborative approach to the sector.

According to him, the appointment of a practitioner as Director-General of NADDC had positively changed the relationship between the council and industry players.

“The good thing is that we now have a practitioner as the Director-General. He engages more actively with assemblers and other stakeholders than before. He listens and adopts a more collaborative approach. He has transformed the organisation,” Jaiyesimi stated.

He recalled that at AABTEAN’s 2025 AGM, the association had called for stronger collaboration among stakeholders to build a more sustainable automotive industry.

Jaiyesimi also expressed optimism over the economic reforms introduced by President Bola Tinubu, noting that recent policies had helped to reduce foreign exchange volatility and improve market predictability.

He explained that importers could now estimate landing costs more accurately, enabling businesses to plan pricing strategies and projections with greater confidence.

Regarding exchange rate stability, Jaiyesimi observed that the naira had remained relatively stable in recent months, aligning with the Federal Government’s projected exchange rate benchmark of N1,400 per dollar.

He added that sustained stability would boost the performance and profitability of companies operating within the sector.

Jaiyesimi further noted that the new electoral law could help curb corruption and reduce the circulation of excessive cash ahead of the 2027 general elections.

Speaking on the performance of the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, he urged the minister to sustain his reform-driven approach and maintain the integrity demonstrated through the ongoing tax reform initiatives.