Nigeria Set to Host Maiden Auto Industry Summit to Address Sector Challenges

Oluyemi Damilola

The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, is poised to inaugurate the first-ever Nigerian Auto Industry Summit, aimed at uniting stakeholders to tackle the challenges facing the auto sector. Scheduled for June 27, 2024, at Radisson Lagos, GRA Ikeja, the summit will be hosted by the Director-General of the National Automotive Design and Development Council (NADDC), Mr. Joseph Osannipin.

The summit, organized by the Nigeria Auto Journalists Association (NAJA) in collaboration with the NADDC, is themed "Reviving Nigeria’s Economy through the Automotive Sector." It aims to transform Nigeria into a leading automotive manufacturing hub in Africa by recommending practical solutions for the government to fully exploit the sector's potential for national development.

Femi Owoeye, Chairman of the Nigerian Auto Industry Summit (NAISU) Organizing Committee, emphasized the importance of this summit, especially given Nigeria's current economic challenges. He stated, “Initiating this summit is vital, especially at this moment in history, when Nigeria is struggling to map its way out of the prevailing global economic despair. Being one of the drivers of the global economy, the automobile industry, if given the necessary impetus in Nigeria, is capable of transforming the country into an automotive manufacturing hub in Africa.”

The summit will serve as an annual event to generate significant insights and data to assist the government in making informed decisions to enhance the automotive sector's growth.

Mike Ochonma, Chairman of NAJA, highlighted that the summit would bridge the information and communication gap between the nation’s auto industry stakeholders and relevant government agencies. He noted, “The summit shall annually produce significant information compost that would help the government to make it happen. That is why the maiden event is themed: Reviving Nigeria’s Economy through the Automotive Sector.”

Ochonma added that the event would provide a unified platform for auto industry leaders to set developmental agendas and drive relevant government policies toward sustainable development of the automotive industry in Nigeria. This initiative aims to position the country as a major beneficiary of the African Continental Free Trade Agreement (AfCFTA).

The summit will also feature discussions with key government officials, including Comptroller-General of the Nigeria Customs Service, Mr. Bashir Adeniyi, and representatives from the Nigeria Port Authority. These discussions will focus on addressing the challenges faced by vehicle importers and enhancing stakeholder confidence in the importation process.

**Economic Impact of Malaria Reduction Efforts**

In a related development, a report by Oxford Economics Africa, commissioned by Malaria No More UK, has highlighted the potential economic benefits of reducing malaria incidence by 90% in malaria-endemic African countries. Achieving this target could boost the GDP of these countries by $126.9 billion between 2023 and 2030.

The report underscores the urgent need to revitalize global efforts to eliminate malaria, emphasizing that doing so would not only save lives but also drive substantial economic growth. For Nigeria, achieving the malaria reduction target could lead to a GDP boost of $34 billion by 2030 due to its large economy and high malaria prevalence.

Chief Oludare Adekolu, National Chairman of the Association of Greenfield Rice Producers, Marketers, and Entrepreneurs (AGRIPMENT), has stated that Nigeria has the capacity to produce far more rice than it currently does if genuine producers receive adequate support. Adekolu, who is also the Chief Executive of Igbemo Rice Processing Company Limited, said the association is working to connect rice investors, farmers, millers, processors, and marketers with the appropriate channels to boost production.

AGRIPMENT is liaising with the Federal Ministry of Agriculture and Food Security and the Small and Micro Enterprise Development Agency of Nigeria (SMEDAN) to request inputs and equipment for its members. These include improved seeds, herbicides, pesticides, fertilizers, paddy parboiling machines, paddy dryers, paddy milling machines, and rice destoning machines.

Adekolu expressed the association's willingness to comply with terms and conditions of access to government support and requested the presence of monitoring officers to provide updates on their activities. He reiterated the members' commitment to participating in programs designed to sustain the rice sector in Nigeria.

These initiatives across different sectors underscore Nigeria's efforts to drive economic growth and development.

Abass Ganiyu, a journalist with over a decade of experience in health reporting, environmental issues, and investigative journalism, currently covers the National Assembly for GoProForum.

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