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Nigeria Loses $19M Annually On Motorcycle Spare Parts Importation - NEW TELEGRAPH
Nigeria spends approximately $19 million per annum on the importation of motorcycle spare parts, Director-General of the National Automotive Design and Development Council (NADDC), Mr Joseph Osanipin said .
Osanipin said this at NADDC’s 2024 end-of-year media briefing on Friday in Abuja.
He emphasised the urgent need to reduce the country’s dependence on imported parts by bolstering local manufacturing.
“Our investigation shows that the value of motorcycle spare parts imported into the country annually is close to 19 million dollars.
“This figure excludes tricycles and vehicles. If we can produce these parts locally, we will save a significant amount in foreign exchange and create opportunities for local manufacturers,” he said.
To address the challenge, Osanipin said NADDC is collaborating with international partners, including the United Nations Industrial Development Organisation (UNIDO) to establish the Nnewi Auto Industrial Park.
