‘Nigeria’s automotive industry could account for 12 per cent of GDP’

The industry is not backward if you examine the status in 2012/13, at the eve of the National Automotive Industry Development Plan (NAIDP) launch. From a mere installed capacity of less than 80,000 vehicles per annum and one per cent capacity utilisation, it rose to about 500,000 installed capacity and 10 per cent capacity utilisation by 2017 although it dropped to six per cent in 2022.