Call for Data Transparency in Nigeria's Auto Industry

During the 30th anniversary celebration of Motor World Magazine, CEO Femi Owoey called for urgent reforms to address the persistent lack of reliable data and restricted media access in Nigeria's auto industry. Scheduled for June 4, the celebration aims to highlight the evolution of the sector over three decades.

Owoey pointed out that unlike South Africa, where industry-wide sales figures are regularly published, Nigeria's auto ecosystem operates largely without publicly available performance data. This scarcity undermines investor confidence and hampers informed decision-making.

He expressed concern over the delayed release of automotive-related data by the National Bureau of Statistics, with the first quarter data for 2026 yet to be released. Owoey also noted that the media landscape suffers from a two-tier information system, limiting journalists' access to reliable sources.

He urged stakeholders, including the Nigeria Automobile Manufacturers Association, to establish frameworks for public industry data and called on the federal government to incentivize transparency policies, viewing transparency as a catalyst for growth in Nigeria's auto industry.