Nigeria's automotive industry shifts into high gear

The IVM G5 by Innoson Vehicle Manufacturing (IVM)

In late 2013, the administration of then-President Goodluck Jonathan made a bold bet: that it could jumpstart the country’s ailing automotive industry through a comprehensive—and controversial— industrial policy, known as the National Automotive Industry Development Plan (NAIDP). Although the policy is still young, there are now promising signs that these efforts to revive the once-vibrant industry are starting to pay off—which bodes well for the current administration’s drive to diversify the oil-focused Nigerian economy.

Nigeria is certainly no newcomer to the automotive industry: from the 1960s to the late 1980s, a number of private and government-owned vehicle assembly plants operated in the country.

Read more: Nigeria’s automotive industry shifts into high gear | Cov Africa