Nigeria Automobile manufacturers have once again reminded the Federal government of the importance of passing into law the Nigeria Automotive Industry Development Plan (NAIDP)
Mr Bawo Omagbitse, Chairman, Nigeria Automobile Manufacturers Association (NAMA) made the assertion at the Automotive Industry Stakeholders Conference held on Monday at the Radisson Blu Hotel, Ikeja, Lagos.
Addressing the nation’s 54-year journey towards industrial transformation, Omagbitse emphasized the importance of proper legislation of the NAIDP to further enhance significant development in the industry.
Initiated since 2013, NAIDP, a bill aimed at helping the accelerating the growth of the industry in Nigeria via discouraging import and encouraging production and sales volume of locally assembled and manufactured vehicles, has many times suffered refusal of presidential accents.
Worst, at the dawn of the former President Muhammadu Buhari’s second term in office, the bill was not only suspended, it was set back via Finance act of 2020, which made vehicle importation more profitable than making cars locally.
But the appointment of Joseph Osanipin as the Director-General of the National Automotive Design and Development Council (NADDC), following the 2023 General Election of President Bola Ahmed Tinubu, has rekindled the hope of the nation’s auto industry stakeholders that another future policy somersault could be avoided.
It was in the spirit of this that the leadership of the NAMA reiterated the call for NAIDP passage at the recent conference.
The event, led by Joseph Osanipin, Director-General of the National Automotive Design and Development Council (NADDC), brought together representatives from relevant government agencies, Nigeria Automotive Manufacturers Association (NAMA), Automotive Local Content Manufacturers Association of Nigeria (ALCMAN), and other industry stakeholders.
A Key focus of the conference was finance accessibility for both automakers and consumers following the launch of N20billion Consumer Credit Fund secured by NADDC in partnership with CrediCorp to support automakers.
Speaking at the Conference, the Hon. Minister for State, Industry, Federal Ministry of Industry, Trade and Investment FMITI, Senator John Owan Enoh applauded President Bola Ahmed Tinubu’s efforts in transforming key industries such as the automotive sector, stressing the need for further funding to ensure sustained industry growth.
“We’re operating in a constrained environment, but the government is committed to taking the bold steps to advance the sector,” he said.
The Hon. Minister also praised the NADDC’s initiatives in developing the auto sector, while urging the auto makers to enhance the competitiveness of Nigerian- made Vehicles both domestically and internationally.
Earlier in his welcome address, the Director General, National Automotive design and development Council (NADDC), Mr. Joseph Osanipin, highlighted the critical importance of local components development, emphasizing that a thriving automotive industry in Nigeria depends on the growth of local manufacturers and suppliers.
“Local components development is the bedrock of this sector,” he stated, underscoring ongoing efforts to boost domestic production and reduce dependence on imports.
The conference also spotlighted Nigeria’s push for alternative fuels, with Osanipin outlining NADDC’s collaboration with the Presidential Compressed Natural Gas (CNG) Initiative to transition the automotive sector towards more sustainable energy. This move is seen as part of the broader “Renewed Hope” agenda, particularly following the removal of fuel subsidies, which has sparked interest in CNG as a viable alternative.
The conference concluded with a renewed commitment from all stakeholders to collaborate on positioning Nigeria’s automotive sector for long-term success.
With a combination of government support, private sector innovation, and strategic partnerships, the sector is poised for significant growth in the coming decade.
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