The maiden edition of the Nigeria Auto Industry Summit (NAISU) ended with calls for strategic investments in the production of automotive components and parts to drive the sector’s growth.
The summit, held in Lagos, was organised by the Nigeria Auto Journalists Association (NAJA), in conjunction with the National Automotive Design and Development Council (NADDC).
During the event, Ben Ejindu, a Council member of the Nigerian Auto Manufacturers Association (NAMA), said that the industry is critical to the growth of Nigeria’s economy.
Ejindu explained that with strategic focus on employment generation, gross domestic product (GDP) contribution, economic linkages, SME support, skills development, technology innovation and industrialisation, the sector is poised to drive Nigeria’s economic progress.
Noting that the auto industry is a critical driver of employment in Nigeria, he said that by establishing and expanding Completely Knocked Down (CKD) and Semi Knocked Down (SKD) assembly plants, the sector could generate substantial job opportunities.
He added that the availability of a large and trainable workforce further supports this potential, creating a robust foundation for economic growth.
Ejindu said the auto industry contributed significantly to Nigeria’s GDP through manufacturing and assembly activities.
the current statistics of $210 million and 0.04 per cent to the country’s GDP provided by the Nigeria Auto Manufacturers Association illustrates the sector’s economic impact with a huge potential to grow.