Stakeholders advocate policies, collaborations to advance Nigeria’s automotive manufacturing
By Rukayat Moisemhe
Automotive manufacturing stakeholders have called for right policies and collaborations aimed at advancing Nigeria’s automotive manufacturing sector and supporting its transition from import-based to production-based.
They made the call at a meeting of officials of the African Association of Automative Manufacturers (AAAM), Nigerian Automotive Manufacturers Association (NAMA) and National Automotive Design and Development Council (NADDC).
The event was organised by NADDC in Lagos on Thursday.
Mr Oluwemimo Osanipin, Director-General of NADDC, emphasised the need to forge alliances, share knowledge and lay the groundwork for a future where African nations would collaborate more closely in the automotive sector.
According to him, this is critical as the nations stand on the cusp of the African Continental Free Trade Area (AfCFTA).
Osanipin said that Nigeria, with its vast resources and strategic position, was poised to become the automotive hub of West Africa.
He said that the nation offered wealth of investment opportunities, from a burgeoning market to a growing base of skilled labour.
“We are committed to creating a stable environment where innovation thrives and where quality meets the aspirations of the African consumer.
“I encourage us to explore the possibilities that lie in collaboration with our local manufacturers, as together, we can drive progress, elevate quality and deliver excellence.
“We must discuss, strategise and envision a future where the automotive industry in Nigeria, and indeed in Africa, reaches new heights of success,” he said.
Mrs Martina Biene, President of AAAM, said that opportunities in the automotive industry would satisfy local and export demands, guarantee direct and indirect employment, and increase the sector’s contribution to Gross Domestic Product.
Biene, however, said that the right policies must be put in place for a successful automotive industry in Nigeria and Africa in general to cater for the needs of Nigeria and the entire African market, particularly under the AfCFTA.
“The recommendations for Nigeria include joint management to grow the new car market, gradual banning of used vehicles, production of good quality fuel, making mobility affordable and creating an opportunity for vehicle asset financing.
“We at AAAM would provide ideas and measures to support the automotive sector in Nigeria,” she said.
The Chief Executive Officer of AAAM, Mr David Coffey, said that many African countries were becoming stronger in their automobile policy development.
This, he said, made it important for Nigeria to move at a fast pace to develop and implement its own policies to drive transition from vehicle importation to vehicle production.
He said that by 2035, Nigeria would record 350, 000 new vehicles demands based on Nigerians’ earning predictions.
He said that support would be available for members of AAAM interested in manufacturing vehicles and their components in Nigeria and other African countries.
Mr Benneth Ejindu, Board Member of NAMA, said that the Federal Government was demonstrating commitment to wholesome organic development of the industry.
He said that this would engender initiatives to determine tariff differentials, qualify assets and activities for assembly classifications, among others. (NAN)(www.nannews.ng)
==========
Edited by Ijeoma Popoola
Published By
Has also recently published
General NewsJune 27, 2024Nigeria requires N348trn to address infrastructure deficit -ICRC D-G
BusinessJune 26, 2024Ways and means securitisation responsible for N24trn debt rise – DMO
SportsJune 26, 2024Paris Olympics: We’re ready to surpass previous achievements – NOC
Defence/SecurityJune 26, 2024Recruitment: Okiro urges harmony between PSC, Police
