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Reading: Vehicle makers in Nigeria push localization plans in meeting with Tinubu’s office
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AfricaNews360 > Business > Vehicle makers in Nigeria push localization plans in meeting with Tinubu’s office
Business

Vehicle makers in Nigeria push localization plans in meeting with Tinubu’s office

Minister Uzoka-Anite leads Auto Industry delegation to President Tinubu

Posted Malik muhammed May 4, 2024 2 Min Read
Updated 2024/05/04 at 4:10 PM
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A delegation of automotive industry leaders led by the Minister of Industry, Trade and Investment, Ms. Doris Uzoka-Anite, met with the office of President Bola Tinubu on Thursday, briefing him on efforts to establish vehicle and spare parts manufacturing in Nigeria.

The group, comprising the African Association of Automotive Manufacturers, Nigerian Automotive Manufacturers Association, and representatives from major automakers like Stallion, Toyota, and Nissan, was received by Chief of Staff Femi Gbajabiamila.

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According to presidential spokesman Ajuri Ngelale, the minister-led delegation thanked Tinubu for the audience and pledged their commitment to his “Renewed Hope Agenda” for economic development.

Automotive Manufacturers Pay Courtesy Visit to President Tinubu pic.twitter.com/Ew7ko6ZfCI

— Presidency Nigeria (@NGRPresident) May 3, 2024

The automotive leaders apprised Gbajabiamila of plans to drive domestic vehicle production, which they said could create massive job opportunities for Nigerian youth while easing pressure on foreign exchange reserves.

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A spokesperson said the group is working with the ministries of industry and justice to draft legislation that would provide a regulatory framework to build the automotive industry.

Emphasizing the need to industrialize, the delegation stated that domestic manufacturing aligns with Tinubu’s policies aimed at boosting national productivity and self-reliance.

In his remarks, Gbajabiamila assured the auto executives of Tinubu’s commitment to Nigeria’s industrial development, as evidenced by his economic agenda implementation so far.

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The meeting signals the administration’s openness to supporting the automotive sector’s ambitions of onshoring production through incentives and an enabling legal environment.

With many international automakers already assembled in Nigeria, the pitch could unlock fresh investment and technology transfer to make the country an automotive hub for West Africa.

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TAGGED: Ahmed Bola Tinubu, Ajuri Ngelale, Doris Uzoka-Anite
Malik muhammed May 4, 2024
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