The Minister of Business, Commerce and Funding, Dr Doris Uzoka-Anite, has affirmed that Nigeria now has the capability and supplies to fabricate Made-In-Nigeria vehicles for native use and export.
With the enabling setting being supplied by the federal government, she mentioned producers must be held accountable if the vehicles are usually not rolling out by December 2024.
At present, Nigeria produces lower than 10 per cent of the autos used within the nation.
Final 12 months, Nigeria’s automobile assembling business, estimated to be value round N302bn, tanked to a brand new low resulting from growing manufacturing prices and weakened demand for domestically assembled vehicles.
In accordance with the Producers CEOs Confidence Index, actions of motor autos and miscellaneous meeting deteriorated additional beneath the benchmark (50 factors) from 48.6 to 46.7 factors.
However talking on the Automotive Part Producers assembly in Abuja, she famous that the car business is confronted with each challenges and alternatives.
An announcement issued on Friday by the Director of Info and Public Relations, Adebayo Thomas, mentioned, “In a big transfer aimed toward fostering sustainable progress and improvement in Nigeria’s car business, the Federal Authorities has issued a clarion name to all stakeholders, together with producers, sellers, regulatory our bodies, and different gamers within the car ecosystem.
“The decision comes as a part of a broader technique to boost the sector’s contribution to the nation’s economic system.”
Encouraging the stakeholders to key into the Nigerian Automotive Growth Coverage, the Minister mentioned, “So far as we’re involved, the auto business is now set to go.
“We’re relying on all stakeholders to make that occur. If we don’t produce made-in-Nigeria vehicles earlier than the top of this 12 months (December), will probably be your fault, as a result of I’m sitting down right here providing you with all of the assurances that this administration has created the enabling setting to guarantee that the auto coverage kicks off,” she acknowledged.
Anite emphasised the necessity for collaboration amongst producers, sellers, regulatory our bodies, and different gamers within the car ecosystem, saying by working collectively, they will tackle challenges, streamline processes, and drive innovation.
She additionally urged stakeholders to keep up high-quality requirements throughout the board, together with automobile manufacturing, security options, emissions management, and after-sales providers.
Stringent adherence to high quality, she mentioned, will enhance client confidence and entice funding.
The minister assured all that the federal government will proceed to encourage elevated funding in analysis and improvement, including that, Improvements in electrical autos, gas effectivity, and different power sources are essential for long-term sustainability.
On native content material, she additionally emphasised the significance of selling native content material by sourcing supplies and elements domestically.
By doing this, she mentioned, the sector can create jobs, cut back import dependency, and contribute to financial diversification
In his introductory feedback, the ministry’s Everlasting Secretary, Nura Rimi, emphasised the importance of group motion and shared imaginative and prescient as outlined within the Nigerian Automotive Growth Coverage.
He additionally urged stakeholders that the nation “will overcome obstacles and unleash the complete potential of Nigeria’s automotive element sector.”
He inspired NADDC and different stakeholders to make use of the prospect to kind alliances, discover new areas of collaboration, and devise methods to catapult the automotive elements manufacturing business to new heights of success.
The assertion added, “The federal government’s cost underscores the pivotal position stakeholders play in shaping its trajectory. Their dedication to sustainable practices will drive Nigeria’s automotive sector in the direction of a brighter and extra affluent future.
“Environmental Duty: Stakeholders are reminded of their environmental obligations. Sustainable practices, recycling, and eco-friendly manufacturing processes are important for a greener future.” the assertion famous.
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