Stakeholders demand a $5 billion funding for an auto economy agency.

Stakeholders demand a $5 billion funding for an auto economy agency.

In order to promote industrialization and lessen dependency on imported cars, Nigerian automotive stakeholders have urged for a greater infusion of local content in the country’s auto markets.

Local content development is the foundation of Nigeria’s industrial progress and economic sustainability, according to Joseph Osanipin, Director-General of the National Automotive Design and Development Council (NADDC).

“Nigeria First: Content as Catalyst for Automotive Economy” was the theme of their speech at the second Nigeria Auto Industry Summit.Professor Oscar Odibo, a university professor, remarked just as he advocated for a $5 billion seed grant for an automobile economy agency to propel the desired auto economy.

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