Nigeria’s automotive stakeholders are intensifying efforts to strengthen local manufacturing.
The Federal Government and industry leaders have urged the Bank of Industry to expand funding support.
They specifically want financing for motorcycle and tricycle production.
The appeal emerged during a stakeholders’ forum in Lagos.
The National Automotive Design and Development Council convened the meeting to advance the Import Deletion Programme.
This programme promotes replacing imported components with locally manufactured alternatives.
Participants included manufacturers, dealers, associations, and financial representatives.
They collectively demanded affordable credit lines and strategic incentives.
Such measures, they argued, would accelerate domestic production capacity.
According to NADDC Director-General Joseph Osanipin, the initiative aligns with national goals.
It supports the Nigerian Automotive Industry Development Plan 2023–2033.
The plan seeks industrial growth, higher local content, and sustainable value chains.
Meanwhile, Nigeria’s automotive sector still battles heavy import dependence.
Limited manufacturing capacity and foreign exchange volatility raise production costs.
However, stronger local production could reduce import bills and create jobs.
Recent data highlights the urgency of reforms.
The National Bureau of Statistics reported significant motorcycle import spending in early 2025.
Import costs rose sharply compared to the previous year.
Industry leaders insist consistent policies remain essential.
They recalled earlier successes of Peugeot and Volkswagen assembly plants.
Therefore, they urged predictable regulations and long-term commitment.
Manufacturers also emphasised affordable financing and infrastructure reliability.
They believe structured support will attract private investment.
Ultimately, stakeholders agree that progressive localisation can transform Nigeria’s automotive ecosystem.
