Stakeholders in the automotive sector have charted a path to deepen local automotive capacity as part of measures at reviving the industry.Stakeholders in the automotive sector have charted a path to deepen local automotive capacity as part of measures at reviving the industry.
Managing Director Nigeria Foundries Group, Vassily Oye Barberopoulos, said additive manufacturing is undeniably on the rise in the automotive industry, with the total automotive additive manufacturing market targeting $12.614 million in 2028. Managing Director/Chief Executive Officer, Pakia Greengold Limited, Reuben Kifasi, said the West Africa automotive policy and the ease of doing business in Nigeria are crucial factors that could boost the growth and development of the automotive sector in the region. While significant steps have been taken to implement the West African automotive policy, there are still challenges to be addressed.
According to the Director General, who was represented at the event by a Deputy Director of the Council, Segun Omisore, the Federal Government has recently approved the new auto policy 2023 to 2033. The objectives of the new policy include, among others, to provide a legal framework for the development of a competitive and sustainable automotive industry in Nigeria.