The Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite has described the Nigeria’s automotive industry as a potential cornerstone of the nation’s economic recovery, offering numerous benefits including job creation, technology transfer and development of ancillary industries.
She made this known on Thursday, June 27, while delivering an opening address at the Nigeria Auto Industry Summit organized by the Nigeria Auto Journalists Association(NAJA) in collaboration with National Automotive Design and Development Council(NADDC), held at Radisson Hotel, Lagos.
Represented by a Deputy Director in the Ministry of Industry Development Office, Mrs. Olumuyiwa Ajayi, the minister, who was the event’s special guest of honour, described the automotive sector as a driver of technological innovation.
“Through partnerships with global automotive giants and the establishment of local research and development centers,” she asserted, “we can facilitate the transfer of cutting-edge technologies to Nigeria. This will not only enhance our manufacturing capabilities but also promote innovation in other sectors.’’
According to Uzoka-Anite, the automotive industry is labour-intensive sector with a potential to create thousands of jobs across the value chain from manufacturing and assembly to sales, maintenance, and logistics.
“By fostering a robust automotive sector,” she noted, “we can significantly reduce unemployment rates and provide sustainable livelihoods for our citizens.”
A developed automotive industry in Nigeria, she says, will spur the growth of other related industries such as steel, rubber, plastics, and electronics, diversifying the nation’s economic base, reducing its dependence on oil and making the economy more resilient to global market fluctuations.
Uzoka-Anite expressed the federal government’s commitment to creating an enabling environment for the automotive sector to thrive.
She said the government had introduced several policies and initiatives aimed at supporting this industry.
She explained: “They include the National Automotive Industry Development Plan (NAIDP), which provides incentives for local manufacturing, including tax breaks, import duty reductions on essential machinery, and investment-friendly regulations. It aims to attract both local and foreign investments in vehicle assembly and production,” she added.
“We are investing in critical infrastructure such as roads, ports, and power supply to support the logistics and operational needs of the automotive industry. Improved infrastructure will reduce production costs and enhance the competitiveness of locally manufactured vehicles.
“We are fostering collaborations between the government and private sector stakeholders to drive the development of the automotive industry. These partnerships will leverage the strengths of both sectors to achieve common goals.”
The Minister, who identified the challenges facing the auto industry as inadequate access to finance, limited local content in vehicle production, stressed the need to address policy consistency.
“The government,” she assured, “is committed to working with industry stakeholders to overcome these challenges and create a conducive environment for growth.”
Uzoka-Anite, therefore, urged all stakeholders; government agencies, private sector players, financial institutions, and development partners to join hands in this endeavor,
“With the right policies, investments, and collaborative efforts, we can transform this sector into a significant driver of economic growth and development,’’ Uzoka-Anite added.
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