Minister pledges support for Nigerian Automotive Industry Development Plan

Minister pledges support for Nigerian Automotive Industry Development Plan

By Rukayat Moisemhe
The Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, has pledged support for the initiative aimed at fostering the Nigerian Automotive Industry Development Plan (NAIDP 2023) implementation to deepen the automotive industry.

Uzoka-Anite said this virtually on Wednesday at the National Automotive Design and Development Council (NADDC) stakeholders engagement on the NAIDP 2023 implementation in Lagos.

The News Agency of Nigeria reports that NAIDP 2023 is a globally competitive automotive ecosystem to serve local and international markets, delivering sustainable value for the Nigerian economy and all stakeholders while enabling the future of mobility.

The NAIDP 2023 target includes manufacturing of 200,000 cars yearly, 40 per cent local content utilisation, Completely Knocked Down (CKD) manufacturing mode, 26 per cent regional share market, and close to a million direct and indirect jobs.

Its vision is to be executed across a 10-year period, from 2023 to 2033 and is envisaged that by the end of the decade, the domestic industry would become a major player in the regional value chain.

Uzoka-Anite said in line with the Renewed Hope Agenda of President Bola Tinubu to fully diversify the Nigerian economy, the successful development and transformation of the automotive industry was pertinent.

She noted that the sector possessed immense potential to propel Nigeria to the forefront of manufacturing and technology advancement.

The minister, however, noted that while the NAIDP 2023 objectives seemed audacious due to some economic challenges, the ministry was working on these issues to ensure a seamless implementation.

“We understand that the success of the plan hinges on collaboration and support and we would do our part as government to address every challenge identified.

“To achieve 200,000 production unit per year, we are ready to support you via investments promotion, incentives, duty waivers on some importation, capacity building, skill acquisition, market access and penetration, and other means.

“However, everything done must be done in an ethical manner and I urge you all not to under-declare your goods when you bring them in.

You must work within the law and enjoy the support of government,” she said.

Uzoka-Anite stated that plans for a consumer credit system that would enable everyone buy what they want to buy and pay back later was underway.

According to her, collateral is personal profile and other means to identify credit worthiness and this initiative will be announced and launched as soon as the framework is tidied.

“Stimulating economic growth using consumption is a big plan of this administration because we know that when consumers buy, manufacturers are encouraged to do more.

“However, players and stakeholders in the automotive industry must give critical attention to maintenance and after sales service care.

“You must take responsibility for business risk and operational risk of what is being produced, hence everyone producing cars must have adequate parts and provide maintenance for what is being produced,” she said.

Mr Oluwemimo Osanipin, the Director-General, NADDC, stressed the need for stakeholders input to drive the efficient implementation of the NAIDP 2023.

According to him, the desired outcome of the revised plan will be hinged on the effective and successful implementation of its strategic pillars.

“Yielding the envisioned results will also require the creation of a propitious ecosystem that facilitates the effective collaboration and execution of all players towards the actualisation of the proposed initiatives and incentives,” he said.

Alhaji Musa Sani, Director, Policy, Planning and Statistics, NADDC, said NAIDP 2023 implementation would usher in a new era of opportunities for all stakeholders in the automotive value chain.

Sani stated that investors would be drawn to the attractive incentives and supportive regulatory environment, while local component manufacturers should witness a surge in demand, stimulating job creation and economic growth.

“Consumers, in turn, will benefit from a wider range of affordable, high-quality vehicles, proudly made in Nigeria.

“To ensure the effective implementation of the NAIDP 2023, we have established a robust governance framework anchored on inter-agency coordination, strong monitoring and evaluation mechanisms, and active stakeholder engagement.

“This framework will ensure that the policy’s objectives are translated into tangible outcomes, driving the sustainable growth and development of the automotive industry,” he said.



==========Edited by Chinyere Joel-Nwokeoma

TDPel Media

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