Nigeria is aiming to become a significant player in the vehicle manufacturing sector, as revealed by Minister Doris Uzoka-Anite during the launch of the Nigeria Automotive Industry Development Plan.
The plan, designed to establish Nigeria as a leading vehicle manufacturer within a decade, leverages the nation's resources, skills, and market.
With support from stakeholders in both public and private sectors, the plan encompasses various vehicle types such as motorcycles, tricycles, sedans, and heavy-duty trucks. To facilitate this, the plan proposes a five-year tax holiday for vehicle assemblers in Nigeria, emphasizing backward integration and component production.
The implementation committee includes representatives from key ministries and organizations such as the Ministries of Finance, Transport, and Environment, along with Industry, Trade, and Investment, the Nigeria Customs Service, the Manufacturers Association of Nigeria, and the Standards Organisation of Nigeria.
Despite challenges like rising production costs, weakened demand, and low capacity utilization, Nigeria remains committed to enhancing local vehicle production, building on initiatives like the Federal Government's Automotive Policy of 2014.
Currently, Nigeria produces less than 10 percent of the vehicles used in the country, highlighting the need for sustained efforts to achieve self-sufficiency in the automotive industry
