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LCCI Wants Automotive Policy Review To Enhance Sector’s Growth

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The Lagos Chamber of Commerce and Industry (LCCI) has urged the Federal Government to urgently review the Automotive Policy to boost revenue generation and economic growth.
The Chairman, Auto and Allied Sector Group of LCCI, Bambo Adebowale, made the appeal in an interview with newsmen in Lagos, Thursday.
He said the policy should be reviewed to align with the present macroeconomic reality of the country.
He said the review was necessary because when the policy was formulated, the exchange rate was N158 to a dollar and inflation rate was at single digit.
Adebowale, who is also the General Manager, Nigeria/Ghana, Mitsubishi Corporation, noted that the policy had become outdated, led to job loss and reduced revenue generation to the country through the ports.
It will be recalled that the National Automotive Policy was introduced in October 2013 by former President Goodluck Jonathan administration, to revive the ailing auto industry.
The objective of the policy was to encourage local manufacturing of vehicles and discourage importation of cars as well as gradually phase out used cars popularly known as ‘Tokunbo.’
Statistics released by the National Bureau of Statistics (NBS) on vehicles imported through the Nigerian ports between 2012 and 2017 showed that 269, 386 vehicles were imported in 2012, while 280, 226 and 247,932 came into the country in 2013 and 2014, respectively.
In 2015, the number of vehicles imported declined to 131,994, while 105,189 vehicles were received at various terminals in 2016.
“The N1.5 million car promised to Nigerians never materialised and that was when naira to dollar exchange rate was N158. With the present exchange rate, how many Nigerians can actually afford a new assembled car.
“Moreso, we still do not manufacture vehicles, we only assemble them, with most of the finance and technology for assembling vehicles still low and belonging to foreigners.
“Some items like rubber, plastics, glasses that are critical to automobile production were part of the 41 items banned from accessing foreign exchange through the official market.
“The whole value chain of automobile industry needs government support to grow, so that vehicles, spare parts and even transportation can be made affordable for Nigerians,” Adebowale said.
He said the National Automobile Design and Development Council (NADDC) issued licenses to over 50 auto assembly manufacturers for a total installed capacity of 410,000 vehicles.
“Morocco has three assembly plants with an installed capacity of 400,000 and is planning to raise production to one million units by 2020; this shows a higher level of efficiency in the country,” he said.

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USTR Criticises Nigeria’s Import Ban On Agriculture, Others

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The United States Trade Representative (USTR) has criticised Nigeria’s import ban on 25 categories of goods, claiming that the restrictions limit market access for American exporters.
This is the effect of President Donald Trump’s tariffs introduction on goods entering the United States, with Nigeria facing a 14 per cent duty.
The USTR highlighted the impact of Nigeria’s import ban on various sectors, particularly agriculture, pharmaceuticals, beverages, and consumer goods.
The restrictions affect items such as beef, pork, poultry, fruit juices, medicaments, and alcoholic beverages, which the United States sees as significant barriers to trade.
The agency argues that these limitations reduce export opportunities for United States businesses and lead to lost revenue.
“Nigeria’s import ban on 25 different product categories impacts United States exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods.
“Restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit United States market access and reduce export opportunities.
“These policies create significant trade barriers that lead to lost revenue for United States businesses looking to expand in the Nigerian market”, the agency said .
In 2016, Nigeria implemented the ban on these 25 items as part of efforts to control imports and stimulate local production.
Some of the banned items include poultry, pork, refined vegetable oil, sugar, cocoa products, spaghetti, beer, and certain medicines.
On March 26, 2025, the  Federal Government also announced plans to halt solar panel imports to encourage local manufacturing as part of its push for clean energy.

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Expert Seeks Cooperative-Driven Investments In Agriculture 

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A leading agribusiness strategist and digital agriculture expert, Ayo Oluwa Okediji, has sought cooperative-driven investments in sustaining growth of poultry industry in Nigeria.
He said the poultry industry was at a defining moment and requires urgent structural reforms to secure its future and ensure long-term sustainability.
Speaking on the theme, “Strengthening Poultry Farming Through Cooperative Synergy and Strategic Investments”, at the recently concluded Oyo Mega Poultry Workshop 2025 in Ibadan, Okediji called on poultry farmers, cooperative leaders, financial institutions and policy makers to rethink the existing structure of the poultry sector.
He stressed the need to transition from fragmented, individually-driven operations to well-structured, cooperative-led enterprises capable of attracting sustainable financing and securing long-term viability.
He said, “Our poultry sector cannot thrive on individual effort alone. We need to organise ourselves into cooperative clusters, build strong governance systems and position ourselves to attract the level of investment needed to sustain this industry beyond this generation.”
Drawing on lessons from successful global cooperative models such as Rabobank in the Netherlands and Landus Cooperative in the United States, Okediji introduced the FarmClusters Poultry Model, a locally adapted solution developed by Agribusiness Dynamics Technology Limited (AgDyna), a subsidiary of AgroInfoTech Africa.
According to him, the model is currently being piloted in Oyo State in partnership with PANOY Agribusiness Limited and local poultry cooperatives.

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NACCIMA Proposes Hybrid Oil Palm Seedlings For Farmers

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The Rivers State Representative of the Nigeria Chambers of Commerce, Mines, Industries and Agriculture (NACCIMA), Mr. Erasmus Chukwundah, has urged palm oil farmers to consider hybrid seedlings for planting, if they must break even in palm oil business.
Chukwundah said this recently at the Free Oil Palm Business Climate Smart Best Management Practice/Assistance Training organized by Partnership Initiative In Niger Delta (PIND) for Palm Oil Farmers in Elele, Ikwerre Local Government Area.
The Rivers representative said until palm oil farmers begin to consider such hybrid oil palm seedlings, they may not meet up with the daily increasing demand of palm oil in the market.
According to him, the seedlings produce up to 30 bunches at once that ripen same time.
He said PIND decided to partner with Oil Palm Growers Association of Nigeria (OPGAN) to ensure that the message was received by the targeted audience.
According to him, palm oil remained a popular choice of industry operators as it could be converted to many other products such as vegetable cooking oil.
He also noted that products such as motor tyers, marine ropes and others are now gotten from the palm tree.
Chukwundah, who is the immediate past Director-General of Port Harcourt Chamber of Commerce, Mines, Industries, and Agriculture (PHCCIMA), further warned against use of unrecommended fertilisers in growing oil palms.
He noted that such practices could limit its export value or chances as the foreign marketers have a way of detecting such .
He reiterated the need for organic fertilizers, including poultry droppings, to enable them have a natural palm oil.
“People must reduce physical contact with palm oil production. That is why we are campaigning for hydrolic oil mills. The foreign markets are no longer interested in crude method of palm oil production”, he said.
Meanwhile, one of the farmers, Sonny Didia, who appreciated Chukwundah’s commitment towards the concern of farmers, appealed for an urgent need for loan opportunity with low interest rate in order to enable them beat the target.

King Onunwor

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