FG Inaugurates Implementation Committee, West Africa Automotive Show to Address Regional Growth, Investment
The Minister of Trade, Industry and Investment, Dr. Doris Uzoka-Anite, has officially inaugurated the Implementation Committee of the Nigerian Automotive Industry Development Plan (NAIDP) after the Plan, which was established in order to reduce over-dependence on the importation of automobiles, received Federal Government approval in 2023.
While speaking at the inauguration ceremony, which was held at the Bank of Industry (BOI) complex in Abuja, the Minister urged members of the Committee to show unwavering determination towards realizing the mandate of the Ministry.
The Director-General of the National Automotive Design and Development Council (NADDC), Joseph Osanipin, on his part, said that the new Auto Policy, NAIDP-2023, was aimed at curtailing Nigeria’s over-dependence on the importation of automobiles and meeting a significant proportion of its demand through domestic production of vehicles and components.
The NAIDP 2023 Implementation Committee comprises the Minister of the Federal Ministry of Industry, Trade and Investment as the Chairperson, and other members including the Ministers of Finance, Transport and Environment. Other agencies heads involved include the Director-General of NADDC, the Comptroller-General of the Nigeria Customs Service, the Executive Secretary of the Nigeria Investment Promotion Commission, and the Director General of the Standards Organization of Nigeria.
Members of the committee from the Private Sector include representatives of the Manufacturers Association of Nigeria, the Nigeria Automotive Manufacturers Association and the Automotive Local Components Manufacturers Association.
Meanwhile, the West Africa Automotive Show (WAAS) is set to open its doors for the fourth edition beginning from Tuesday May 14th to Thursday May 16th at the Landmark Centre, Victoria Island, Lagos. The event this year holds the promise of being a pivotal platform for the exploration of various strategies that will strengthen the local automotive industry, as well as stimulate investment within the Economic Community Of West African States (ECOWAS) and the African Continental Free Trade Area (AfCFTA) frameworks.
The conference is to be chaired by the former Director at the National Automotive Design and Development Council (NADDC) and Chief Executive Officer at Transtech, Luqman Mamudu. It will delve into critical topics, such as supply chain extensions, local manufacturing opportunities, and the economics of automotive and parts production.
According to Mamudu the conference is a crucial opportunity for stakeholders to align with regional agenda and capitalize on emerging investment prospects.
In his words, “the WAAS 2023 inaugural conference identified the content of Nigeria’s automotive components and parts sector within the structure of its emerging automotive development programme. The choice of Nigeria as a reference for West Africa region was informed by the fact that Nigeria’s 15 million registered vehicles account for over 75 percent of the region’s vehicle population”.
The conference also aims to spotlight investment opportunities in components and parts manufacturing within the region, fostering discussions on manufacturing collaboration and comparative advantages among member countries.
In addition to the conference, there will be an exhibition, which will feature over 250 exhibitors from countries around the world, like Saudi Arabia, United Kingdom, Poland, Egypt, Pakistan, Germany, Italy, South Africa, and Brazil, including prominent pavilions from China, and India. Those who will be in attendance can anticipate a diverse range of offerings, from vehicle repair and maintenance training sessions to insights on cutting-edge automotive technologies.
More than 4,500 visitors are expected to attend to examine supply chain extensions, manufacturing opportunities, including reverse engineering and 3D printing, as well as economics of automotive and parts manufacturing.
Saglev, a United States-based electric vehicle manufacturing company, is set to sponsor the conference, while Automedics Africa will be conducting training sessions on vehicle repair and maintenance.
The event underscores Nigeria’s commitment to driving innovation and growth in the automotive sector, positioning itself as a hub for industry stakeholders and investors alike. The show is poised to catalyze transformative advancements in the regional automotive landscape, driving economic diversification, employment generation, and Gross Domestic Product (GDP) growth.
