Dr. Doris Uzoka-Anite, the Minister of Industry, Trade and Investment, has confirmed that Nigeria now possesses both the capacity and materials required to manufacture cars labeled as Made-In-Nigeria for local consumption and export.
She emphasized that with the current conducive environment provided by the government, manufacturers will be held accountable if the cars are not being produced by December 2024.
Currently, Nigeria’s domestic production of vehicles accounts for less than 10 percent of the total vehicles utilized in the country.
Recent statistics show that Nigeria’s vehicle assembly industry, valued at approximately N302bn, faced a decline due to rising production expenses and diminished demand for locally assembled cars.
Based on the Manufacturers CEOs Confidence Index, the performance of motor vehicles and miscellaneous assembly activities fell below the benchmark level (50 points), dropping from 48.6 to 46.7 points.
During the Automotive Component Manufacturers meeting in Abuja, the Minister acknowledged that the automobile industry is confronted with both obstacles and prospects.
A statement released on Friday by Adebayo Thomas, the Director of Information and Public Relations, stated, “In a significant move towards promoting sustainable growth and development in Nigeria’s automobile industry, the Federal Government has issued a rallying cry to all stakeholders, including manufacturers, dealers, regulatory bodies, and other participants in the automobile ecosystem.
“This call is part of a more extensive strategy to bolster the sector’s economic contribution.”
Encouraging stakeholders to align with the Nigerian Automotive Development Policy, the Minister declared, “From our perspective, the auto industry is all set to advance.
“We rely on all stakeholders to make it happen. If we fail to produce Made-In-Nigeria cars by the end of this year (December), the responsibility lies with you, as I am here assuring you that this administration has facilitated the necessary environment to kick-start the auto policy,” she expressed.
Anite stressed the importance of collaboration among manufacturers, dealers, regulatory bodies, and other participants in the automobile industry ecosystem, asserting that by working collectively, they can address difficulties, streamline operations, and promote innovation.
She also urged stakeholders to uphold high standards of quality across all aspects, including vehicle production, safety measures, emission controls, and post-sales services.
Firm adherence to quality standards, she mentioned, will enhance consumer trust and attract investment.
The Minister ensured that the government will continue to promote increased investment in research and development, highlighting that advancements in electric vehicles, fuel efficiency, and alternative energy sources are crucial for long-term sustainability.
On the subject of local content, she also emphasized the significance of endorsing local content by procuring materials and components locally.
By following this approach, she stated, the sector can generate employment opportunities, reduce reliance on imports, and contribute to economic diversification.
In his opening statements, Nura Rimi, the ministry’s Permanent Secretary, emphasized the importance of unified efforts and shared vision as stipulated in the Nigerian Automotive Development Policy.
He encouraged stakeholders that the nation “will surmount obstacles and unlock the full potential of Nigeria’s automotive component sector.”
He urged NADDC and other stakeholders to seize the opportunity to form partnerships, explore new avenues of collaboration, and devise strategies to elevate the automotive components manufacturing industry to unprecedented levels of success.
The statement further added, “The government’s directive underscores the crucial role stakeholders have in shaping its trajectory. Their commitment to sustainable practices will steer Nigeria’s automotive sector towards a brighter and more prosperous future.
“Environmental Responsibility: Stakeholders are reminded of their environmental obligations. Adhering to sustainable practices, recycling, and eco-friendly manufacturing processes are imperative for a more sustainable future,” the statement highlighted.