A West Africa Automotive industry consultant and former Director at the National Automotive Design and Development Council (NADDC), Mr. Luqman Mamudu, has revealed that Nigeria accounts for 75% of ECOWAS 15m vehicles.
He stated this yesterday at the opening ceremony of the 3rd edition of the West Africa Automotive Show (WAAS) held at the Landmark Event Centte, Victoria Island, Lagos.
Mamudu said “the population of ECOWAS 15 member countries is about 414 million people and Nigeria account for 50% of this or 200 million people.
Again, the total number of registered vehicles in West Africa is 15,507,000 and Nigeria accounts for 11,869,800 or 75%, This is indicative of the market size for automotive products supply especially for repairs/replacement.”
Mamudu who spoke in his capacity as the Chairman of the WAAS 2023 Conference, stressed the importance of the seminar with the theme- Transition to sustainable quality automotive parts supply in West Africa.
According Mamudu, the choice of Nigeria for the WAAS is justified, saying “Nigeria is in its 9th year of a 10 year automotive program with an established structure. The National Automotive Industry Develooment Plan (NAIDP) is currently under review for another term. So the choice of Nigeria for the event is given.
“The choice of Nigeria for this exhibition and conference in the region is therefore strategic. B to B Events Limited (organiser of WAAS) has assured me that the event will be sustained into the future annually.”
“This conference could not therefore have come at a better time especially as we welcome a new government. The outcome of the conference will prove invaluable in its automotive policy positioning,” he said.
On the enormous investments by industry stakeholders in the local auto industry, Mamudu said “I wish to recognise the extensive investment by Nigerian Entrepreneurs in the industry as well as the investment pipeline already established in Nigeria by many OEMs.
“I urge them to increase and sustain the flow of technical and capital resources. Help is on the way. The new NAIDP has just been approved by FEC”, (Federal Executive Council) Nigeria.
FEC is the highest government decision making body in Nigeria.
He equally commended the effort of Africa Association of Automotive Manufacturers (AAAM) to make Nigeria an automotive hub.
The WAAS which started yesterday, May 16, will end tomorrow May 18, 2023.
