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Nigeria’s auto industry in limbo over policy delay – LCCI sectoral head
Nigeria’s auto industry in limbo over policy delay – LCCI sectoral head

Nigeria’s automotive industry is in limbo due to prolonged delay in enacting the required law to give investors the right direction.
Head of the Auto Sectoral Group of the Lagos Chamber of Commerce and Industry (LCCI), Mr. Kunle Jaiyesinmi, stated this, noting that the industry was being allowed to stagnate, making it difficult to galvanise the overall development of the Nigerian economy
Jaiyesinmi who is Deputy Managing Director of CFAO Motors, spoke in Lagos on the sidelines of the 2024 Nigeria Auto Industry Awards organised by the Nigeria Auto Journalists Association (NAJA).
He said, “For now, we are in limbo. We don’t know what is happening to the (auto industry) policy; whether it’s with the Executive or it has gone to the National Assembly. We don’t have information on the stage that the policy is. I think NADDC is coming up with a stakeholders’ meeting maybe they would give us a very detailed information on the policy.”
In his assessment of the performance of the business this year, he lamented that the macroeconomic challenges including the high exchange rates and inflation were adversely affecting vehicle salesmmm
He said, “2024 has provided a topsy-turvy ride looking at the state of the economy. The purchasing power has been so much eroded (due to) the depreciation of the naira (the exchange rate).
“Prices have risen to a level that most private consumers cannot really afford it (new car). You notice that the major corporates are really suffering. You can imagine how much they lost in terms of exchange rate.
“So that has really impacted the procurement of new vehicles… We have more of automobile maintenance service rather than new sales.
“If you look at the market figure, it has so much reduced compared to what we had been having when the exchange rate was around N450, N480. So it’s not been a very good year for automobile business.
Jaiyesinmi also spoke on the high interest, which is over 33%; as well the recently announced government-back N20 billion auto finance.
He said, “Automobile loan is a no-go area for consumers. It’s a bit tough now. Reliance is on government now and it’s not everybody that can do government business.
“We are just looking at 2025 to be a better year going by the appreciation of the naira in recent times. We are just praying that it can be sustained. If we are able to get that into the new year maybe vehicle prices would reduce and based on the government providing very good enabling environment for businesses to thrive.”
Speaking on the N20bn auto finance scheme by the credit corporation (CreditCorp), he said, “The N20bn scheme is even belated because when the Auto Policy started about 10 years ago, the 35 per cent tariff being charged on fully built vehicles, the understanding we had then was that part of it would go to the auto financing and the other part would go to automobile assemblers’ facility.
“In 10 years, nothing happened and we know how much has been collected by the Federal Government from that levy.
“So N20bn is a paltry amount and the scheme is coming up a bit late. Looking at the local assembling, how many assemblers are we really having in Nigeria? Those of us that started eight, nine years ago, almost all of us have really closed shop.”
He however expressed optimism that the new Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, would turn things around.
“I believe she should be able to drive this policy. She should try as much as possible to run away from the era of deceit. She should face reality and I believe as a realist, her tenure would portend a good tiding for the automobile business,” he said.
Auto
Court of Appeal Affirms Ruling Barring VIO from Seizing Vehicles or Fining Motorists
Court of Appeal Affirms Ruling Barring VIO from Seizing Vehicles or Fining Motorists
The Court of Appeal, Abuja, on Thursday, upheld a previous Federal High Court judgment prohibiting the Vehicle Inspection Officers (VIO) and the Directorate of Road Traffic Services (DRTS) from confiscating vehicles or imposing fines on motorists without lawful authority.
A three-member panel of appellate justices, led by Justice Oyejoju Oyewumi, dismissed the appeal filed by the VIO, describing it as lacking merit and affirming the October 16, 2024 ruling of the high court.
The original suit, marked FHC/ABJ/CS/1695/2023, was filed by public interest lawyer Abubakar Marshal, who alleged that he was unlawfully stopped and had his vehicle confiscated by VIO officials at Jabi District, Abuja, on December 12, 2023. He contended that the action was a violation of his fundamental rights.
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Justice Nkeonye Maha of the Federal High Court had declared that no law empowers the VIO to stop, seize, impound, or fine motorists, and granted a perpetual injunction restraining the agency and its agents from further violating citizens’ freedom of movement, presumption of innocence, and right to own property.
The court held that only a court of competent jurisdiction can impose fines or sanctions on motorists. It further ruled that the actions of the Respondents violated Section 42 of the 1999 Constitution and relevant articles of the African Charter on Human and Peoples’ Rights.
Although the applicant had sought N500 million in damages and a public apology, the court awarded him N2.5 million. Respondents included the Director of the Directorate of Road Traffic Services, the Abuja Area Commander, the team leader, and the Minister of the Federal Capital Territory.
The appellate court’s decision confirms that the VIO and DRTS cannot legally harass motorists, reinforcing citizens’ constitutional rights on the road.
Court of Appeal Affirms Ruling Barring VIO from Seizing Vehicles or Fining Motorists
Auto
Changan, Jetour, Chery set for showdown in Nigeria’s Car-of-the-year race
Changan, Jetour, Chery set for showdown in Nigeria’s Car-of-the-year race
Nigeria’s auto market is set for a blockbuster duel as three Chinese giants — Changan, Jetour and Chery — go wheel-to-wheel for the highly coveted 2025 Nigeria Car-of-the-Year crown.
For an industry once dominated by Japanese, European badges and later Korean brands, the emergence of these finalists marks nothing short of a seismic shift.
Unveiled on Thursday by the Nigeria Auto Journalists’ Association (NAJA), the contenders — Changan CS55, Jetour Dashing, and Chery Tiggo 8 — are already stirring excitement as the competition enters its most unpredictable year yet.
The CS55, which shocked the establishment last year after outgunning global favourites such as the Toyota Corolla and Kia Rio, returns as the defending champion, hungry for a repeat victory.
But industry watchers warn that the 2025 battle may be the toughest yet, with both Jetour Dashing and Chery Tiggo 8 enjoying surging popularity among Nigerian motorists seduced by their blend of tech, design and affordability.



The climax comes on December 16, 2025, when the glittering Oriental Hotel, Victoria Island, Lagos, hosts what many insiders describe as “Nigeria’s Oscars of the auto industry” — a gathering of government leaders, CEOs, mobility innovators and the country’s top motoring journalists.
Speaking on the seismic shift unfolding in the sector, NAJA Chairman Theodore Opara said the 2025 shortlist captures the moment Nigeria’s automotive story takes a dramatic turn.
“For the first time, Chinese manufacturers are not only competing — they’re leading the pack,” he said. “The quality, technology and rising acceptance of these three brands show just how fast the market is transforming.”
He explained that the committee placed strong emphasis on vehicles that combine innovation, durability and suitability for Nigeria’s rugged roads — qualities all three finalists have demonstrated.
More Categories Still Under Wraps
While excitement builds around the flagship category, NAJA has yet to release the full list of nominees for other segments, including vehicle assembly, electrification, aftersales, heavy-duty trucks, transport services and luxury mobility. Those nominations are expected to drop in the coming days.
‘We’re Raising the Bar Again’ — Awards Committee
Frank Kintum, Chairman of the Award Planning Committee, assured that preparations are in “top gear” and that this year’s event will strengthen NAJA’s long-standing reputation for integrity in a fast-expanding auto space.
“From electric vehicles to renewed interest in local assembly, the industry is evolving rapidly. Our awards must reflect this new reality,” Kintum said.
Top Dignitaries Set to Attend
NAJA also confirmed that the Director-General of the National Automotive Design and Development Council (NADDC), Chief Joseph Oluwemimo Osanipin, and the Corps Marshal of the Federal Road Safety Corps (FRSC) will grace the occasion as Special Guests of Honour.
Osanipin is expected to spotlight Nigeria’s push for deeper local assembly and EV integration, while the FRSC boss will reiterate growing concerns — and expectations — around road safety in an industry experiencing rapid expansion.
As the countdown begins, one thing is certain: the 2025 Car-of-the-Year battle is shaping up to be the most dramatic in Nigeria’s automotive history — a contest where China’s rising stars now sit firmly in the driver’s seat.
Auto
Luxury automakers enter pickup market as global auto industry embraces high-end trucks
Luxury automakers enter pickup market as global auto industry embraces high-end trucks
The global pickup segment is undergoing a dramatic transformation as luxury automakers and industrial giants compete to merge opulence, performance, and utility. Brands such as Rolls-Royce, Maybach, Bentley, Cadillac, Mercedes-Benz, BMW, Audi, Lexus, and even Ford Mustang are unveiling premium pickups designed for high-net-worth individuals, celebrities, and enthusiasts seeking powerful, tech-loaded vehicles.
Traditionally dominated by Toyota, Ford, and General Motors, the pickup market has become the “new cash cow” for the automotive industry. Luxury brands are following a strategy similar to the SUV boom two decades ago, positioning pickups as both status symbols and work-capable machines.
Rolls-Royce leads the pack with its Cullinan Pickup, boasting a V12 twin-turbo engine generating 563 horsepower, accelerating from 0–60 mph in 4.5 seconds. Mercedes-Benz revived its X-Class, blending elegance with off-road capability, while BMW introduces the X7 Pickup, featuring a turbocharged 3.0-liter inline-six with 375 horsepower.
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Cadillac’s 2026 Escalade EXT enters the segment as an all-electric, 750-horsepower pickup with all-wheel drive. Bentley, Shelby, and Ford Mustang are also competing with high-performance, luxury-focused pickups, combining speed, towing power, and premium interiors. Audi, Lexus, and Maybach are preparing their own models to challenge established luxury names.
Meanwhile, traditional pickup giants like Toyota are expanding their line-up with new models to retain leadership in this increasingly lucrative sector. Industrial and heavy machinery brands, including Caterpillar, John Deere, and Mack Trucks, are entering the fray with diesel-powered pickups boasting extreme torque, towing capacity, and rugged durability.
With 2025 and 2026 model releases, the luxury pickup boom is set to redefine the global automotive landscape, merging muscle, technology, and prestige on four wheels. The race now spans continents, with German, American, and Asian automakers vying for dominance in a market once reserved for utilitarian trucks.
Luxury automakers enter pickup market as global auto industry embraces high-end trucks
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