The Federal Government has announced plans to strengthen Nigeria’s automotive industry through targeted policy support and incentives aimed at positioning the country as West Africa’s leading hub for Compressed Natural Gas (CNG) and Electric Vehicles (EVs).
Vice President Kashim Shettima, represented by Kingsley Tochukwu Udeh, minister of Innovation, Science and Technology, stated this on Tuesday at the opening of the 25th Abuja International Motor Fair themed “Driving Nigeria’s Automotive Future: Innovation, Sustainability and Growth.”
Shettima said the administration’s Renewed Hope Agenda prioritises building a competitive automotive ecosystem driven by local production, technology adoption, youth employment and the transition to cleaner energy.
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He emphasised that the automotive sector “is not a side project but the engine” of the administration’s development vision, stressing that the mass deployment of CNG for public transport remains central to cushioning the effects of ongoing economic reforms and providing affordable mobility for millions of Nigerians.
The Vice President also called for the creation of innovative financing models, including single-digit interest loans, to improve access to made-in-Nigeria vehicles and enhance affordability for ordinary citizens.
He urged commercial financial institutions to develop new funding mechanisms to support growth within the automotive value chain.
Speaking at the event, John Owan Enoh, minister of State for Industry, Trade and Investment, reaffirmed the ministry’s commitment to the automotive industry, describing it as a key driver of the administration’s economic objectives.
He noted that the motor fair presents an important platform to showcase progress under the National Automotive Industry Development Plan (NAIDP).
Enoh commended local vehicle assemblers and component manufacturers for their resilience, innovation and improving capacity, stating that their work continues to prove that made-in-Nigeria products can compete favourably in both quality and value.
Also speaking, Oluwemimo Joseph, director-general of the National Automotive Design and Development Council (NADDC), said the agency is intensifying efforts to deepen local content and reduce the country’s dependence on imported automotive components.
