By Oluwakemi Kindness
The National Automotive Design and Development Council (NADDC), says Nigeria spends nineteen million dollars yearly on the importation of motorcycle spare parts.
Director-General, NADDC), Joseph Osanipin, who stated this at the Council’s 2024 end-of-year media briefing in Abuja, harped on the urgent need to reduce the country’s dependence on imported parts by bolstering local manufacturing.
According to him to address this challenge, the NADDC is collaborating with international partners, including the United Nations Industrial Development Organisation (UNIDO) to establish the Nnewi Auto Industrial Park.
“Our investigation shows that the value of motorcycle spare parts imported into the country annually is close to 19 million dollars.
“This figure excludes tricycles and vehicles. If we can produce these parts locally, we will save a significant amount in foreign exchange and create opportunities for local manufacturers,” he said.
Speaking on the council’s achievement, Osanipin said the disbursement of the twenty billion naira consumer credit fund that would enable Nigerians to purchase locally-assembled automobiles will begin in January 2025
He added that the initiative will empowers Nigerians with credit to own new automobiles such as cars, tricycles, motorbikes while growing Nigeria’s automotive industry.
The NADDC boss assuring Nigerians of the Federal Government’s commitment to addressing the infrastructure gaps hindering the widespread adoption of Compressed Natural Gas (CNG).
“The infrastructure we have currently cannot 100 per cent support the demand for CNG. However, the federal government is working seriously on that.
“On September 30, the government released N122nn to assist investors and stakeholders across Nigeria’s geopolitical zones to provide the necessary infrastructure for CNG,” he said.
