Nigeria’s Industrialisation Depends On Strong Auto Industry – Minister

Nigeria’s industrialisation ambitions will remain unrealised unless the country rapidly develops a strong and globally competitive automotive sector, minister of state for industry, trade, and investment, John Owan Enoh, has said.

Speaking at the unveiling of NEV Motors’ EV T6 electric buses, Enoh stressed that a thriving auto industry is not just desirable but essential for economic transformation, job creation, and Nigeria’s ability to compete on the global stage.

“If we truly want to industrialise, reduce unemployment, and create wealth, the auto sector must be at the heart of our strategy,” he said. “The world is moving forward with advanced mobility solutions, and Nigeria cannot afford to be left behind.”

Enoh argued that for Nigeria to become a serious player in global trade and manufacturing, it must build a robust automotive ecosystem—one that integrates local vehicle production, component manufacturing, and export capacity.

“The rest of the world is watching to see how we get our auto sector right,” he said. “Our ability to attract investment and drive sustainable economic growth depends on how well we harness the potential of this industry.”

To accelerate Nigeria’s auto industry, Joseph Osanipin, Director-General of the National Automotive Design and Development Council (NADDC), highlighted the urgent need for affordable vehicles, particularly in the electric vehicle (EV) segment. He noted that widespread EV adoption requires both a strong financial framework and critical infrastructure investments.

“To truly transition Nigeria into a modern automotive economy, we must create an environment where electric vehicles are not only available but also practical and affordable for the average Nigerian,” Osanipin said.

As part of efforts to boost vehicle ownership and stimulate local manufacturing, he announced that the federal government has launched a financing scheme through NADDC’s partnership with the Nigerian Consumer Credit Corporation (CREDICORP).

He said an initial N20 billion credit facility has been set up to provide affordable financing for automobile buyers, ensuring that locally-produced vehicles become more accessible to Nigerians. Osanipin said the scheme is a game-changer that will deepen local demand while strengthening domestic supply chains.

“The credit-driven economy is the future,” he said. “We are working closely with CREDICORP to see how this figure can be scaled up, ensuring that more Nigerians can afford vehicles while supporting local manufacturers.”

Beyond financing, Osanipin said NADDC  has been collaborating with stakeholders to expand EV charging infrastructure across the country and create a sustainable ecosystem for electric mobility.

Osanipin acknowledged that progress has been made in expanding EV charging infrastructure but warned that without a comprehensive support system, Nigeria’s transition to cleaner energy would remain sluggish.

He noted that the growing focus on electric mobility aligns with Nigeria’s broader industrial strategy to diversify the economy, cut carbon emissions, and attract technology-driven investments into the manufacturing sector. By prioritising the development of a robust EV ecosystem, he said, Nigeria could position itself as a key player in the global clean energy transition.

NEV Motors CEO, Mosope Olaosebikan, described the unveiling of the company’s EV T6 electric buses as a defining moment for Nigeria’s transportation sector, marking the country’s readiness to embrace clean mobility solutions.

“There were doubts about whether EVs could work in Nigeria, but today we have proven that it is possible,” he said. “This is not just about introducing a new vehicle; it’s about igniting a movement that positions Nigeria as a leader in clean transportation and sustainable mobility.”

Olaosebikan emphasised that the shift to electric vehicles presents an opportunity for Nigeria to reduce its dependence on fossil fuels, cut emissions, and foster innovation in the automotive industry. He called for greater collaboration between government and private sector players to scale up EV adoption and build the necessary infrastructure to support a thriving electric mobility ecosystem.