He said that the $8 billion Nigerians spend in importing vehicles annually is proof that there is a large market for a viable automotive industry in the country that will create jobs and contribute to the growth of the Nigerian economy.

Schaefer agreed that Nigeria’s time to be an automotive hub is now. “Africa’s time is now and Nigeria’s time is now. There’s no doubt about that. “The National Automotive Industrial Development Plan (NAIDP) is a great base and it would help this country to industrialise.”

He said that Volkswagen is “more than happy to play the pioneering role and be the role model” that will spur the interest of other global players in the Nigerian automotive sector.

“Nigeria could outperform the rest of the world. We should not hold back mentally. The fact that Nigeria currently does not have a thriving auto industry presents an opportunity because there are no legacy issues. So the country can invest and prepare now in order to become ripe for the future,” Mr Schaefer added.

When the MOU between the federal government and Volkswagen was signed two months ago, the automaker had said that its intentions for Nigeria are subject to “commercial viability.”

The workshop was attended by several stakeholders including the Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, Edet Sunday Akpan; the Directors-General of the National Automotive Design and Development Council (NADDC), Jelani Aliyu; Bank of Industry (BOI), Kayode Pitan; Standards Organization of Nigeria (SON), Osita Aboloma; and Nigeria Export Processing Zones Authority (NEPZA), Emmanuel Jime. Others include the Program Coordinator of the Industrial and Competitiveness Advisory Council, Edirin Akemu; Special Adviser to the Minister of Industry, Trade and Investment, Bunmi Adeoye; and representatives of the NIPC, Customs, FRSC, and the private sector.