Nigeria’s vehicle production capacity has hit 7,000 vehicles per annum.
The production level is still far below the sector’s installed capacity of 408,000 vehicle.
Nigeria used to produce 150,000 units of vehicles per annum from an installed capacity of 200,000.
A former director with the National Automotive Design and Development Council (NADDC), Mr. Luqman Mamudu made this known during an automechanika road show organized by Messe Frankfurt ahead of Automechanika 2018 holding in Dubai.
The present production level of 7000 vehicles per annum, according to him, was achieved with the launch of the National Automotive Industry Development Plan (NAIDP).
In 2013, the country assembled 1000 units of vehicles made locally from an installed capacity of 108,000 but the figure rose by about 700 per cent in 2017 following the
According to him, the country’s auto industry dated back to 1971-72 up to 1980 when the federal government set up six assembly plants in lagos, kaduna, ibadan, kano, bauchi and enugu.
He explained that Nigeria also had many component parts’ manufacturers but regretted that the gains of the past were eroded by the economic restructuring foisted on the country by the International Monetary Fund (IMF).
Mamudu who recently retired from NADDC as the Director of Policy and Planning, also disclosed that the country spends $2bn annually to import vehicle parts and components.