The federal government has disclosed its readiness to make Nigeria Africa’s automotive hub, as it said launching incentives, streamlining regulatory processes, and improving infrastructure to create a conducive environment for investment are part of its plans to attract global manufacturers to the country.
The Minister of State for Industry, Trade and Investment, Senator John Owan Enoh, in a recent interview also revealed the ministry’s active role in providing oversight and guidance, ensuring that NADDC aligns with national industrial objectives, particularly in fostering the growth and transformation of the automotive sector.
Giving comprehensive insights into the ministry’s oversight of the National Automotive Design and Development Council (NADDC) and its role in the country`s automotive sector, Senator Enoh said “Through collaborative efforts, the ministry seeks to create a robust regulatory and operational framework that accelerates industrialisation in the automotive space.”
This ranges from policy direction to emerging opportunities in the African Continental Free Trade Area (AfCFTA), some of which include the ministry’s practical contributions to policy formulation and implementation aimed at enhancing NADDC’s operations.
According to him, “With the African Continental Free Trade Area now operational, the ministry is actively positioning Nigeria’s automotive industry to capitalise on regional trade opportunities. Efforts are underway to integrate Nigeria into the continental value chains, boosting exports and fostering partnerships.”
He explained the progress in the Nigerian Automotive Industry Development Plan (NAIDP) and the implementation of the Auto Policy which is designed to establish a competitive and sustainable automotive industry in Nigeria.
On alternative energy initiatives, the minister of state FMITI underscored the federal government’s push toward Compressed Natural Gas (CNG) as an alternative fuel, adding that the drive would be achieved through collaboration with stakeholders to facilitate the adoption of CNG-powered vehicles and initiatives to promote electric vehicle (EV) adoption in Nigeria.
He continued that the ministry is committed to promote local content development and patronage of Made-in-Nigeria products, thereby reducing dependence on imported parts and fostering a self-reliant automotive sector.
This is as he pointed out the ministry`s resolve to implement measures to mitigate issues of exchange rate volatility and inflation, and other challenges facing the country`s automotive sector, thereby providing a stable operating environment for stakeholders.
