A group of automotive investors from South Africa under the umbrella of the National Association of Automotive Components and Allied Manufacturers (NAACAM) visited the Council on 8th February 2017 to explore the opportunities of partnership, manufacturing and wholesale distribution of automotive components parts in Nigeria. The representatives of NAACAM which is affiliated to the African Association of Automotive Manufacturers (AAAM) were led by Mr. Dave Coffey.
Mr. Dave Coffey stated that the AAAM is focused on developing an automotive manufacturing industry in Africa and Nigeria has been identified as a potential automotive industrial hub following the introduction of the auto policy. The National Association of Automotive Components and Allied Manufacturers visit to the Council was in furtherance of the initial visit by the African Association of Automotive Manufacturers to Nigeria on the 15th-16th August 2016.
In his words “We understand the opportunity in the Nigerian market and very much ready to explore the possibility of manufacturing auto components parts with the intention of supporting Original Equipment Manufacturers (OEM’s) CKD assembly plants and also explore partnering Nigerian companies to initially wholesale and distribute components parts in Nigeria”
The group identified their key areas of components parts specialization ranging from auto glass, cool refrigeration parts, vehicle shock absorbers, and textile and foams components.
In his response, the Director General NADDC, Engr. Aminu Jalal welcomed the potential investors describing their concepts as innovative and one that could add value to the Nigeria automotive industry.
The Director General gave a brief on the auto policy stating that the automotive policy in Nigeria which is at the level of legislation has recorded huge success since inception. He urged the visitors to take advantage of the policy and produce their component parts locally as the Nigerian market is big enough for huge investments.
Engr. Aminu jalal stated that presently the Council’s focus is on how to make made-in –Nigeria vehicles available and affordable for Nigerians which would in turn deal with the issue of smuggling and over reliance on second hand vehicles as most people really on used vehicles “Tokunbo” due to difficulties in affordability. He also said that the Council is presently working on a vehicle finance scheme intended to boast vehicle purchasing power of Nigerians as well as encourage local patronage.
Talks are in top gear to introduce the investors into the Nigeria Automotive Industry.