NADDC To Develop Robust Policies To Boost Local Production In Automobile Industry

To enhance the growth of the nation’s automobile industry, the National Automotive Design and Development Council, NADDC, is to strengthen its collaboration with key Stakeholders’ to develop robust policies to boost local production and attract Foreign Direct Investment, FDI, in the sector.

Speaking during the Nigeria Automotive Industry Stakeholders Conference in Abuja, the Director General of NADDC, Mr Oluwemimo Joseph -Osanipin noted that Stakeholders in the automotive industry are the architects of Nigeria’s diversified economic structure needed for national development.

Mr Joseph – Osanipin therefore advised participants at the conference to come up with strategies towards building a future where Nigerian-made vehicles would not only dominate the nation’s roads but also become a symbol of innovation and progress.

“The Nigerian automotive sector is a vital artery of our economy, propelling commerce, facilitating transportation and creating jobs and as we all know, this industry is a dynamic force, intimately intertwined with the economic climate, technological advancements and even the environmental landscape ” He said

In his words”At the National Automotive Design and Development Council, NADDC, we firmly believe that building a robust automotive industry is a marathon not a sprint and it demands unwavering commitment, the agility to adapt when necessary and most importantly, unwavering collaboration to reach a shared finish line “.

In a remark, the Managing Director of Bank of Industry, BOI, Dr Olasupo Olusi described the automobile industry as key to job creation, youth empowerment, poverty eradication and national economic development.

Dr Olasupo who was represented by the Divisional Head, Business Development in BOI, Mr Obaro Osah therefore promised BOI financial support to key players and investors towards enhancing the growth of the industry.

Also speaking, the President of Nigeria Association of Road Transport Owners, NARTO,Alhaji Yusuf Othman stressed the need for Nigerians to patronize made in Nigeria vehicles to boost the country’s economy.

He identified inadequate Infrastructure as major challenges confronting the sector and called for more collaborative efforts towards effective sustainability in the successes recorded so far in the industry.

Earlier, the Convener of the conference, Dr Yomi Charles said the event was organized to enable key Stakeholders brainstorm on how to fast track the growth of the nation’s automobile industry.

While commending the support of NADDC in the sector, Dr Yomi Charles called for more enabling environment in the area of Infrastructure towards encouraging more investment in automobile industry.

The conference which was attended by major investors in Nigeria’s Automobile Industry featured paper presentations and discourse on the way forward in the sector