The National Automotive Design and Development Council (NADDC) says it is intensifying efforts to secure legislative backing for the National Automotive Industry Development Plan (NAIDP).
The director-general of NADDC, Joseph Osanipin, during an interactive session with journalists in Abuja, said that this is to guarantee policy stability and attract long-term investment into Nigeria’s automotive sector.
Mr Osanipin said that while the NAIDP currently exists as a policy framework, it must be strengthened through an act of parliament to give investors confidence.
He said automotive manufacturing required huge capital outlay, as establishing a functional auto manufacturing plant could cost between three and four billion dollars.
According to Mr Osanipin, this scale of investment demands legal certainty beyond policy pronouncements.
He said that converting the NAIDP from a policy to legislation would ensure continuity, protect investments, and shield the sector from policy reversals.
Mr Osanipin further said that discussions were ongoing with relevant stakeholders, including lawmakers and industry players, to ensure its realisation.
The NADDC boss said the proposed legislation would institutionalise incentives, local content development, and standards enforcement across the value chain.
Mr Osanipin described the move as critical to Nigeria’s ambition to build a sustainable, globally competitive automotive industry.
(NAN)