The Nigeria Auto Journalists Association (NAJA) is set to host its inaugural Nigeria Auto Industry Summit (NAISU) with the support of the National Automotive Design and Development Council (NADDC). With schedule to be held in Lagos on June 27th, the summit aims to become a yearly tradition in the industry, bringing together all relevant stakeholders to discuss the sector’s potential for advancing national development. The inaugural event, under the theme ‘Revitalizing Nigeria’s Economy via the Automotive Industry’, will be inaugurated by Dr. Doris Uzoka-Anite, Minister of Industry, Trade, and Investment.
Mr. Joseph Osannipin, the Director General of NADDC, will preside as the main host of the summit, with support from a coalition of participants including the African Association of Automotive Manufacturers (AAAM) from South Africa, Nigeria Association of Automotive Manufacturers (NAMA), and key stakeholders from various sectors in Nigeria. Femi Owoeye, Chairman of the organizing committee of NAISU, emphasized the significance of the summit in boosting the growth of the industry in the country. He noted that the timing of the event during a period of economic uncertainty is crucial as Nigeria seeks to navigate through the challenging global financial climate.
Providing a cohesive platform for industry executives.
Speaking, Mike Ochonma, the Chairman of NAJA highlighted that the summit aims to close the communication divide between the auto industry stakeholders and government agencies, facilitating better information flow. Additionally, the summit will provide a cohesive platform for industry executives to collaborate on establishing a strategic roadmap to drive government policies that will propel the industry towards sustainable growth. This will position the nation as a key beneficiary of the African Free Trade Agreement Area, paving the way for economic advancement.
Adewale Adeniyi, the Comptroller-General of the Nigeria Customs & Excise (NCE), along with representatives from the Nigeria Ports Authority (NPA), will be speaking at the summit to tackle the various obstacles that auto importers are currently experiencing, with the aim of increasing stakeholders trust in the customs clearance procedures. The summit aims to bring together all key players in the industry on a yearly basis with the goal of providing actionable recommendations to the government. These recommendations will be outlined in a communiqué at the conclusion of the event, emphasizing the untapped potential of the Automotive Industry for national growth.
Key stakeholders are expected to be present at the summit.
Among the industry’s key stakeholders that are expected to be present at the inaugural Nigeria Auto Industry Summit (NAISU), which is scheduled to take place on June 27 at Radisson Lagos, GRA Ikeja, include Weststar and Associates the general authorized distributor of Mercedes-Benz in Nigeria, Carloha Nigeria as the exclusive distributor of Chery, Toyota Nigeria Limited (TNL), Lanre Shittu Motors, Globe Motors, and CFAO Nigeria. Others are Ineh-Mic Motors, Suzuki distributed by CFAO, RT Briscoe, Honda Automobile Western Africa Limited (HAWA).
Moreover, the automobile industry has the potential to greatly impact Nigeria by becoming a key player in the Global Economy and transforming the country into a leading automotive Manufacturing hub in Africa. In order to enhance the growth and development of the sector, the federal government has expressed its commitment to supporting the Nigerian Automotive Industry Development Plan (NAIDP 2023). This initiative aims to create an automotive ecosystem that is competitive on a global scale, catering to both local and international markets. Its goal is to provide long-lasting benefits for the Nigerian economy and all involved parties, all while paving the way for the future of transportation.
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NAIDP was implemented with the aim of producing 200,000 cars annually with 40% local content, using the Completely Knocked Down (CKD) manufacturing method. The goal is to capture 26% of the regional market share and create nearly one million jobs, both directly and indirectly. The 10-year plan, spanning from 2023 to 2033, aims to elevate the local industry to a prominent position within the regional value chain by the end of the decade. This aligns with President Bola Tinubu’s Renewed Hope Agenda, which aims to diversify the Nigerian economy by prioritizing the successful growth and evolution of the automotive industry.