National Automotive Design and Development Council (NADDC) has recognised the need for a change and is now gearing up to shift Nigeria's local auto policy into high gear.
As the country’s reliance on imported vehicles hinders economic growth and development, the National Automotive Design and Development Council has recognised the need for a change and is now gearing up to shift Nigeria’s local auto policy into high gear.
Quoting data from the National Bureau of Statistics , he said that Nigeria’s vehicle population to population ratio stands at a mere 0.06, significantly lower compared to developed nations, which highlights the immense potential for the domestic auto industry to cater to the growing demand for vehicles.
Osanipin added, “The Nigerian automotive sector is a vital artery of our economy, propelling commerce, facilitating transportation, and creating jobs. As we all know, this industry is a dynamic force, intimately intertwined with the economic climate, technological advancements, and even the environmental landscape.
Charles called for a more enabling environment in the area of infrastructure to encourage more investment in the automobile industry. Also speaking, the Managing Director of the Bank of Industry , Dr. Olasupo Olusi, described the automobile industry as key to job creation, youth empowerment, poverty eradication, and national economic development.
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