• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, June 30, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Nigeria Loses $1bn Yearly To Vehicles Spare Parts Importation – FG

by Kingsley Alu
8 months ago
in Business
nigeria
Share on WhatsAppShare on FacebookShare on XTelegram

The federal government has said the country is losing an estimated $1 billion annually to the importation of automobile spare parts.

Advertisement

The National Automotive Design and Development Council (NADDC) which revealed this in Abuja, yesterday, however said steps are being taken to address this huge loss of revenue to the country due to importation of component parts of vehicles.

The NADDC director general, Joseph Osanipin said this at the training of some Engineers on Midas NFX Software Automotive Design Skills Boot Camp organised by the council on Monday in Abuja.

“The country spends over $1 billion each year on imported spare parts.

“This massive expenditure underscores the urgent need for local production capabilities and advanced design training to reduce dependency on foreign imports and stimulate economic growth.
“This boot camp focused on Midas NFX software training aimed at empowering local engineers and designers with the skills necessary to create high-quality vehicle components,” he said.

RELATED

Deploying AI Will Not Cause Job Loss In Nigeria – Expert

Expert Introduces Lightweight AI-based System For Early Aviation Failure Detection

6 minutes ago
FirstBank Customers Get N93m In ‘Win Big Promo’

FirstBank Launches Facial Recognition On Mobile App

9 minutes ago

According to him, Midas NFX is a sophisticated tool that enables users to scan parts, design them according to specific requirements, and select the optimal materials whether plastic or steel for production.

He said the software represented a crucial step in modernising Nigeria’s automotive manufacturing processes.

“The boot camp is designed not only for staff of the council but also for private entities that might lack the resources to access such training opportunities.

“With a target of training 100 individuals over the next year, the initiative aims to equip local assemblers and manufacturers with essential knowledge, bridging the gap between theory and practice.

“The only way we can bridge the gap is through knowledge. And through this programme we hope to foster innovation within the industry.

“The programme will not only enhance local expertise but also pave the way for the development of locally-produced spare parts, ultimately saving the country significant amounts of foreign currency,” he said.

Osanipin said while Nigeria had made strides in producing lubricants, there remained a vast potential in other vehicle components, such as batteries, brake pads, and filters.

He said the automotive aftermarket represented a significant economic opportunity, and harnessing local talent to design and manufacture these parts could stimulate job creation and enhance self-sufficiency.

”About 24 participants are set to be trained today and future plans are already in motion to expand this training initiative.

“By focusing on advanced technologies and adherence to production specifications, Nigeria aims to position itself competitively in the global market,”Osanipin said.

The managing director, FAZSAL Nigeria Limited, Dr Abdullawal Zubair, commended the NADDC boss for the opportunity he gave to the participants to engage in the software training.

“The D-G has provided this department with enough tools.You have a 3D scanner, 3D printer, so you can print or produce anything as the 3D scanner you have is the best in the world.

“I therefore urge the participants to judiciously utilise this opportunity to improve on their skills for their personal growth and the growth of the industry ” he said.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Aviation FuelNational Automotive Design and Development Council (NADDC)Nigerian Civil Aviation Authority (NCAA)Osanipin
SendShareTweetShare
Previous Post

NHIA, States Strategise To Maximise $669M Global Fund Support

Next Post

Polaris Bank Wins ‘Best Mobile App’ At Digital Jurist Awards

Kingsley Alu

Kingsley Alu

You May Like

Deploying AI Will Not Cause Job Loss In Nigeria – Expert
Business

Expert Introduces Lightweight AI-based System For Early Aviation Failure Detection

2025/06/30
FirstBank Customers Get N93m In ‘Win Big Promo’
Business

FirstBank Launches Facial Recognition On Mobile App

2025/06/30
Group To Drive Africa’s Tech-led Industrial Revolution, Offers Tips To Unlock $450bn Intra-African Trade
Business

Group To Drive Africa’s Tech-led Industrial Revolution, Offers Tips To Unlock $450bn Intra-African Trade

2025/06/30
Oilserv Targets December Completion Of 303km As AKK Pipeline Crosses River Niger
Business

Oilserv Targets December Completion Of 303km As AKK Pipeline Crosses River Niger

2025/06/30
Council Targets Accelerated Sugar Project Devt In 2025
Business

Poor Backward Integration Programme Performance To Cost Sugar Firms Import Quotas

2025/06/30
Bbb+ Rating
Business

TAJBank Sustains Industry Feat, Pays 3rd Dividend In 5 Years

2025/06/30
Leadership Conference advertisement

LATEST

FIRS Gifts MSME Operator With Cash, Car For Tax Compliance

Expert Introduces Lightweight AI-based System For Early Aviation Failure Detection

FirstBank Launches Facial Recognition On Mobile App

Group To Drive Africa’s Tech-led Industrial Revolution, Offers Tips To Unlock $450bn Intra-African Trade

Oilserv Targets December Completion Of 303km As AKK Pipeline Crosses River Niger

Poor Backward Integration Programme Performance To Cost Sugar Firms Import Quotas

TAJBank Sustains Industry Feat, Pays 3rd Dividend In 5 Years

Terra Cube Unveils “Unwrap Smiles Squad”

‘Dangote’s Investment Of N720bn On CNG Trucks To Save Nigerians N1.7trn’

Nigeria Seafarers Will Remain Competitive, Globally Employable – Oyetola

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.