The Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, has declared that Nigeria now possesses the capability and resources to manufacture domestically produced vehicles for both local usage and export. She emphasized that the government has established an enabling environment, and manufacturers will be held accountable if cars are not being produced by December 2024.
Currently, Nigeria manufactures less than 10% of the vehicles utilized within the country. The vehicle assembling industry, previously valued at approximately N302 billion, experienced a decline due to escalating production costs and diminished demand for locally assembled automobiles.
Minister Uzoka-Anite addressed the Automotive Component Manufacturers meeting in Abuja, acknowledging that the automobile industry faces both challenges and opportunities. She urged all stakeholders, including manufacturers, dealers, regulatory bodies, and others in the automobile ecosystem, to collaborate and support the Nigerian Automotive Development Policy.
The Minister emphasized the importance of maintaining high-quality standards in vehicle manufacturing, safety features, emissions control, and after-sales services. She also highlighted the need for innovation in electric vehicles, fuel efficiency, and alternative energy sources for long-term sustainability. The government is committed to encouraging increased investment in research and development to drive these advancements.
Uzoka-Anite encouraged stakeholders to work together to address challenges, streamline processes, and foster innovation in the industry. By maintaining stringent adherence to quality standards, consumer confidence will be boosted, and investment will be attracted. The Minister’s statements underscore the government’s commitment to supporting the growth and development of Nigeria’s automobile industry.
