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Nigeria Accounts For 75% Of The Total Number Of Registered vehicles in West Africa
Nigeria accounts for 75% of the total number of registered vehicles in West Africa, says Mr. Luqman Mamudu.
He revealed this at the opening ceremony of the just concluded 3rd edition of West Africa Automotive Show (WAAS).
2023 WAAS was held between May 16 and May 18 at the Landmark Event Centre, Victoria Island, Lagos.
Nigeria accounts for 75 percent of the total number of registered vehicles in West Africa, figure that indicates of the market size for automotive products supply especially for repairs and replacement.
This was made known by Mr. Luqman Mamudu at the opening ceremony of the just concluded 3rd edition of the West Africa Automotive Show (WAAS), held between May 16 and May 18 at the Landmark Event Centre, Victoria Island, Lagos.
Mamudu, a former Director at the National Automotive Design and Development Council (NADDC), who spoke in his capacity as the Chairman of the WAAS 2023 Conference said :
“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.”
According Mamudu, the choice of Nigeria for the WAAS is strategic, 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.”
