Specifically, he said there is aggressive push for local content development and policy reforms.
Osanipin made the disclosure at an interactive session with the Senate committee on Industries held on Tuesday in Abuja.
Speaking on the committee’s observation over the council’s revenue shortfall, he said discrepancies in figures were due to misinterpretation of expenditure data rather than mismanagement, saying “what they saw was what we have actually spent, and after our explanations, they were satisfied”.
He assured that there are plans to boost local auto production by partnering with key industry stakeholders including the Association of Local Component Manufacturers (ARCMAN), the Manufacturers Association of Nigeria (MAN), and the National Automotive Manufacturers Association (NAMA).
His words: “We have identified components that can easily be produced in Nigeria, our goal is to ensure that these local producers can meet the required volume for domestic use. Without capacity, the programme will fail and we are determined not to let that happen.”
He revealed that the council collected ₦25 billion in 2024 and projected ₦140.5 billion for 2025, however bemoaned that the collections were below target.
Meanwhile, the Committee Chairman, Senator Fadahunsi, among others Senators highlighted the need for tighter revenue oversight, improved coordination with Customs, and a clear roadmap for sustainable sectoral growth.
