As part of the ongoing efforts towards reviving the nation’s auto industry, the Federal government has stressed the need to restart automotive component manufacturing in the country.
Making the case at the meeting of Nigerian automotive component manufacturers in Abuja, the Minister of Industry Trade and Investment, Doris Uzoka Anite said the time had come for the government and stakeholders to the need for Stakeholders to work together towards reviving vehicle components manufacturing in the country.
According to her, vehicles and auto component manufacturing hold one of the keys to huge job creation and economic growth.
“To realize the full potential of the nation’s automobile,” she explained, “we must establish strong linkages between auto component suppliers and vehicle manufacturers.
“This involves not only identifying the challenges but also leveraging our strengths and resources to overcome them. Collaboration and cooperation between these stakeholders are essential for ensuring a seamless flow of components and materials, ultimately leading to increased efficiency and competitiveness in the market.
“We need to identify reliable sources of raw materials and suppliers for our component manufacturers. This entails exploring both domestic and international avenues to secure a steady supply chain that can meet the demands of our growing industry. There is also a need to address critical issues of funding, as access to finance is often cited as a major hurdle for businesses in this sector.”
Also speaking at the occasion, the Director General National Automotive Design and Development Council (NADDC), Joseph Osanipin also stressed the need to focus more on vehicle components made in Nigeria.
“NADDC’s strategic plan,” he pointed out, “is to focus more on parts to aid the development of the automotive industry and push for the transition of the country’s assemblers from SKD to CKD auto manufacturers.
“For instance, while NIGERIA Vehicle ownership is 6% of the general population as of 2018 (which is approximately 12m), in South Africa it is about 17.4%. In other to achieve this and more we need to harness the collective talents and resources at our disposal to drive sustainable growth and development in the sector.”
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