By Moses Akaigwe

 

In a significant move aimed at enhancing the development of Nigeria’s automotive industry, the National Automotive Design and Development Council (NADDC) recently held discussions with the Revenue Mobilization, Allocation and Fiscal Commission on possible collaboration between the two agencies.

 

The meeting, which took place on May 13, 2024 at the NADDC headquarters in Abuja, focused on finding vital partnership opportunities to address challenges hindering the industry’s growth.

During the interaction, the Director General of NADDC, Joseph Osanipin, underscored the significance of funding in advancing the development of the automotive sector.

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He emphasised the necessity of government support through credit schemes and incentives to empower local manufacturers and encourage citizens to patronise Nigerian-made vehicles.

   Osanipin also stressed the need for policy reinforcement through legislative acts to safeguard investments in the industry.

Highlighting the importance of collaboration, the leader of the team from the RMFAC, Sunday Okon, commended NADDC’s clear vision and progress made thus far, pointing out the imperative of active engagement and the establishment of a technical collaborative committee to drive the industry’s development forward.

Furthermore, both parties acknowledged the immense potential of domestic component production in generating employment opportunities and stimulating economic growth.

They underscored the need for continued dialogue and concerted efforts to navigate the challenges and leverage on the opportunities within the automotive sector.

Both parties agreed that as Nigeria seeks to position itself as a prominent player in the global automotive market, partnerships between NADDC and relevant agencies serve as crucial steps towards realising this vision.


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