Supporting Nigerian-made vehicles could reduce the pressure on the naira as one of the reasons why the naira is so worthless is excessive imports from abroad. For instance, the total value of used vehicle imports from abroad “tokunbo” increased from N325.05 billion in 2022 to a staggering N1.063 trillion, an increase of 226.43 %. Another reason is that supporting local manufacturers creates jobs, which is very important in a context where unemployment in the third quarter of 2023 was 5 % according to the National Bureau of Statistics. For this reason, in this article, I will mention the major vehicle manufacturers in Nigeria in 2024.
Innoson Vehicle Manufacturing Company Limited
Innoson Vehicle Manufacturing Company Limited is a vehicle manufacturer based in Nnewi, Anambra State. The company was founded by Innocent Ifediaso Chukwuma and has since manufactured buses, SUVs, MPVs, coaches, pick-ups, trucks, fire engines, garbage trucks, and other types of vehicles under the IVM brand. Innoson also announced plans to establish a factory for electric vehicles and agricultural tractors, the latter through a joint venture with the University of Nigeria under the Lion brand.
The company has a production capacity of 60,000 units per year, and with the new Innoson plant it is expected to have the capacity to produce 30,000 CNG units. The company also stated that at least 65% of the components are produced in Nigeria and that if there is high demand, they could produce their own engines and transmission systems.
Innoson has a collaborative relationship with both state governments and the Federal Government. An example of this is the recent collaboration of Innoson Vehicle Manufacturing Company Limited with the Federal Government for the supply of buses powered by compressed natural gas (CNG).
Finally, it is worth noting that Innoson has managed to export its vehicles to Sierra Leone, Mali Congo and Ivory Coast. In addition, the Jamaican High Commissioner in Nigeria, Esmond Reid, said that his country was planning to acquire Innoson vehicles.
Electric Motor Vehicle Company of Nigeria Limited
Electric Motor Vehicle Company (EMVC) of Nigeria Limited is a Nigerian company based at 251 Herbert Macaulay Way Central Business District, Abuja. Founded by His Highness Prince Mustafa Mona Audu, this company is engaged in the manufacturing of electric vehicles. Some of the vehicles it produces are tricycles, motorcycles, SUVs, vans and coaches under the EMVC brand.
It is worth noting that the company has its own battery assembly line, which makes it a more independent company as it is less dependent on suppliers.
Jet Systems Automobiles Industries Limited
Jet Systems Automobiles Industries Limited is a Nigerian company headquartered at KM 43, Lekki-Epe Expressway, Lagos. The company is engaged in the manufacturing of military vehicles, ambulances, vans, pickup trucks, and other types of vehicles under the Jet brand.
On the other hand, like Innoson, Jet Systems has also made collaborations, an example of which was the delivery of CNG-powered buses.
Nord Automobiles Limited
Nord Automobiles Limited is a Nigerian automobile manufacturer headquartered in Lagos, Nigeria. Founded by Ajayi Oluwatobi, the company designs, manufactures and distributes vans, tricycles, SUVs, and pickup trucks.
On May 15, 2024, Nord CEO announced that it has secured an agreement to supply CNG powered vehicles to the Ogun State Government. Another notable deal was the order for 120 units of electric tricycles manufactured at the Kano factory by Qoray Mobility, a company backed by Nigerian bank Sterling Bank.
Lanre Shittu Motors (Nigeria) Limited
Lanre Shittu Motors (Nigeria) Limited is a Nigerian company headquartered at 15, Alhaji Tokan Street, Alaka Estate, Funsho Williams Drive, Surulere Lagos. Founded by Alhaji Rasaq Olanrewaju Shittu, the company grew to become an assembler of vehicles of mainly foreign brands such as Yutong, JAC, NISSAN and KIA. Furthermore, after Lanre Shittu Motors introduced its own brand of vehicles, the “LSM”, it stated its intentions to export its LSM vehicles to African nations.
Egoras Technologies Limited
Egoras Technologies Limited, a Nigerian manufacturer backed by the American firm Tekedia Capital LLC, revolutionized the Nigerian market on June 8, 2024 with the presentation of its Egoras APEX 28 electric vehicle. Egoras thus joins the growing list of Nigerian electric vehicle manufacturers.
It should be noted that Egoras has a diversified product portfolio from tricycles, freezers, televisions and tokenized electric vehicles thanks to its subsidiary Egochain Technologies Limited.
Savenhart Technology Limited
Savenhart Technology Limited, or better known as Siltech, is a Nigerian company based in Victoria Island, Lagos State, which is mainly engaged in the manufacture of electric motorcycles and bicycles under the Siltech brand. This company, in addition to designing, producing and marketing electric vehicles, is also dedicated to the installation of charging points.
Some of its most iconic vehicles are the Elohim Dove, an electric vehicle in which at least 75% of its components are of national origin according to Siltech.
Furthermore, in addition to the fact that the company designs and produces electric motorcycles and bicycles, it has also embarked on the production of electric golf carts, electric scooters and gas vans.
Bennie Agro Processing Company Limited
Bennie Agro is a Nigerian company founded by Jerry Mallo with headquarters at Plot 56843 Gut, along Rayfield-Kwang Rd Jos, Plateau State, Nigeria. This company is primarily engaged in the manufacturing of tractors and agricultural machinery. The company markets tractors under the brand name Iron Bull and offers 25Hp and 32Hp tractors.
Bennies Automobile Limited
Bennies Automobile is another Nigerian company founded by Jerry Isaac Mallo and is engaged in the design, production and marketing of sports cars under the Bennie brand.
On November 18, 2019, at an event in Abuja, Bennies Automobile unveiled the Purrie, a carbon fiber sports car, thus becoming the first company to manufacture sports cars in Nigeria. Later, on March 23, 2024, Bennies Autmobile unveiled another sports car called the Bennie Sternum in Jos.
Equipment and Protective Applications International Limited
Equipment and Protective Applications International Limited (EPAIL) is a Nigerian company based in Lagos and is a member of the MOMAS Group of Companies. EPAIL manufactures ballistic helmets, bulletproof vests, military vehicles, and unmanned aerial vehicles.
EPAIL Nigeria also sent 20 Light Tactical Armoured Vehicles (LTAV) to the Nigerian Army. These vehicles have been based on the Chinese Dongfeng CSK131 Light Armoured Vehicle, which EPAIL reverse engineered and manufactured under the EPAIL brand.
Roxettes Eco-Drives Limited
In the heart of Abia State, Nigeria, lies Roxettes Eco-Drives Limited, a company that is revolutionizing the country’s automotive landscape with its focus on sustainable mobility. Known commercially as Roxettes Motors, this company is known for producing electric vehicles under the Roxettes brand, as well as offering CNG and gasoline hybrid vehicle options.
Recognizing that charging infrastructure is essential for mass adoption of electric vehicles, Roxettes Motors has set up charging stations in several states in Nigeria including Lagos, Anambra, Enugu, Imo and Abia. This network of charging stations makes it easier to recharge electric vehicles and reduces range anxiety, a key driver for consumer confidence in electric mobility.
