Nigeria’s automotive industry holds significant potential to contribute to the country’s economic development, the Nigeria Automotive Manufacturers Association (NAMA) has said.
In his presentation at the maiden edition of the Nigeria Auto Industry Summit (NAISU), which was held in Lagos at the weekend, Council member of NAMA, Ben Ejindu, harped on the critical roles of the automotive industry to Nigeria’s economy.
The summit was organised by the Nigeria Auto Journalists Association (NAJA) in conjunction with the National Automotive Design and Development Council (NADDC).
Ejindu explained that with strategic focus on employment generation, Gross Domestic Product (GDP) contribution, economic linkages, Small and Medium Enterprises (SME) support, skills development, technology innovation and industrialisation, the sector is poised to drive Nigeria’s economic progress.
Noting that the automotive 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 can 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 stated that the auto industry contributes significantly to Nigeria’s GDP through manufacturing and assembly activities.
According to him, the current statistics of $210 million and 0.04 per cent to the country’s GDP provided by the Nigeria Automotive Manufacturers Association illustrates the sector’s economic impact with a huge potential to grow.
