Federal Government Approves Revised Nigerian Automotive Industry Development Plan (NAIDP 2023-2033)

The Federal Executive Council has approved the revised Nigerian Automotive Industry Development Plan (NAIDP 2023-2033). The plan establishes a robust regulatory environment designed to attract over $5 Billion in private sector investments over the next decade. Key pillars include zero-duty tariffs on knock-down kits (CKD/SKD), mandatory local procurement for government fleets, tax holidays for indigenous auto parts foundries, and dedicated green finance mechanisms for Electric Vehicle (EV) charging infrastructure developers across key national corridors.