The President of the National Automotive Design and Development Council (NADDC), Jelani Aliyu Dogondaji, praised the private sector for investing over 500 billion in the Nigerian automotive industry. The support and incentives enabled the private sector to invest in building factories and car assembly plants across the country. The NADDC director told reporters in Sokoto on Sunday.
Our correspondent reported that the Director General, speaking to reporters, revealed NADDC's efforts to increase local vehicle production in Nigeria. According to him, companies such as Dangote, Elizade, Honda West Africa, Innoson, Lanre Shittu, Mikano, Nord, and Sinotrucks are currently producing cars in the country.
The NADDC revealed that they have assembly companies and plants in Lagos, Nevi, Kaduna, and Kano, and some are starting to appear in Bauchi, Kano, and Ogun states. The DG said that companies have a combined annual production capacity of 400,000 vehicles. However, they are working hard to unlock this potential and stop importing new, used cars to Nigeria.
He further said that some individuals and companies have enough confidence in Nigeria's present and future economy to invest a huge sum of money. He explained that the NADDC was in talks with other multinationals such as Toyota, Nissan, and Volkswagen to establish manufacturing facilities directly in Nigeria. The committee is working towards effectively implementing the automotive policy program to bring these companies back to Nigeria.
"When these companies come out, they will invest hundreds of millions of dollars." "They want guarantees that their investments will be protected no matter what government is in power," says the DG.
According to the CEO, the commission has also engaged the international company KPMG to review its automobile policy. He claims this is in line with the existing global car production movement. He recalls that in the 1970s and 1980s, companies such as Anamco, Leyland, Peugeot, and Volkswagen produced more than 140,000 cars a year and then suddenly stopped. "Everything came to a standstill overnight as the price of oil, on which the country is so dependent, plunged from $27 a barrel to under $10," Aliyu said. "So overnight, Nigeria fell into recession, Nigerians became poor, and those who could buy a new 504, a new 505, and a beetle could no longer do so.
"As a result, these companies could no longer sell their products, and Rey was forced to leave due to market forces." NADDC is working tirelessly to restore its lost glory and prevent Nigerians from relying on imported used cars, the CEO said.
The National Automotive Development Plan (NAIDP) is diligently implemented to reverse the ugly trend. He believes that cars produced in Nigeria have the same standard quality as imported cars, if not better than them.
