Chairman, West Africa Automotive Show (WAAS) and former Director at the National Automotive Design Development Council (NADDC), Luqman Mamudu, has revealed that Nigeria accounts for about 78.8 per cent of imported automotive components.
He stated this, yesterday, during the opening ceremony of the fourth edition of WAAS in Lagos.
According to him, about $6.2 billion yearly is spent for importing automotive components and parts into the region of which Nigeria alone accounts for $4.2 billion.
Mamudu said: “We were simply exporting jobs outside Nigeria.”
Deputy Director of the Federal Ministry of Industry, Trade and Investment, Olumuyiwa Ajayi-Ade, said that the WAAS was in line with Federal Government’s efforts to foster local auto components manufacturing and foster regional collaboration.
Ade-Ajayi, who was represented by the Permanent Secretary, Nura Abba Rimi, added that the sector plays a crucial role in driving the economy, creating employment and fostering technological advancement.
Also, Director-General of NADDC, Joseph Osanipin, who was represented by the Minister for Industry Trade and Investment, Doris Nkiruka Uzoka-Anite, said no sector could produce or match the automotive industry.
President of the Auto Spare Parts and Machinery Dealers Association (ASPMDA), Ngozi Emechebe, highlighted the challenges of the industry, which is posed to fake parts, the economy and the wellbeing of the country.
The production of fake products, he said, had also contributed significantly to stunting the genuine growth of the automotive industry in Nigeria.
Earlier in her welcome address, Exhibition Manager, BtoB Events, Georgina Lloyd, applauded Nigeria for being at the forefront of transforming the automotive landscape in West Africa.
She said that the exhibition highlights the latest advancements in automotive technology and sustainable practices and also underscores commitment to fostering greater collaboration across the region.
