By Adaobi Rhema Oguejiofor
The Nigeria Auto Industry Summit (NAISU) has called on the Federal Government to legally endorse the Nigeria Auto Industry Development Plan (NAIDP), as it has the potential to generate over five million jobs.
The Summit, organised by the Nigeria Auto Journalists Association (NAJA) in partnership with the National Automotive Design and Development Council (NADDC), took place at the Lagos Chamber of Commerce and Industry, Ikeja, Lagos.t
It brought together key stakeholders across Nigeria’s automotive ecosystem, including regulators such as NADDC, the Federal Road Safety Corps (FRSC), the Standards Organisation of Nigeria (SON), and the Nigeria Automobile Manufacturers Association (NAMA).
With the theme “Nigeria First: Content as Catalyst for Automotive Economy,” the summit showcased presentations aimed at policy reform, local manufacturing promotion, and resolving structural challenges in the industry. This is amid the renewed hope government’s focus on Nigerian content under the recently launched Nigeria First Policy, and a surge in investments in local assembly and parts production.
The summit noted that despite the automotive sector’s vast potential, it contributes minimally to the Nigerian economy. Participants emphasised that passage of the NAIDP bill, pending for 13 years, is crucial to unlock this potential. They called for immediate legislative action to attract investments and support industry growth.
NAISU also urged President Bola Tinubu to establish a National Automotive Economy Agency with an initial fund of $5 billion, led by a Director-General, to enhance value chain development within the sector.
The group highlighted that the Nigeria First Policy presents opportunities for automotive players to expand local production, stressing the need to meet global standards for safety, durability, and environmental compliance. They also recommended that the NADDC define the 40 per cent local content requirement clearly and urged original equipment manufacturers (OEMs) to submit Nigerian content plans detailing local sourcing of materials, labour, and services.
Additionally, the summit emphasised the vital role of auto journalists as industry watchdogs, called for intensified efforts to curb border smuggling to protect local investors, and advocated for strict enforcement of the Nigeria First Policy in public procurement to reduce dependence on imports, promote innovation, retain value, and foster job creation across the industry.