By Jesusemen Oratokhai
The Federal Government has rolled out a groundbreaking End-of-Life Vehicle (ELV) Regulation to curb environmental hazards from aging cars and unlock a multi-billion-dollar auto-recycling industry.
Speaking at a stakeholders’ forum in Lagos, Minister of State for Industry, Trade, and Investment, Sen. John Enoh, revealed that Nigeria imports 500,000 vehicles annually, with 400,000 being used cars, fueling pollution.
The new policy seeks to turn automotive waste into economic opportunities, create jobs, and boost revenue.
Joseph Osanipin, Director-General of the National Automotive Design and Development Council (NADDC), projected that the ELV policy could generate at least 40,000 jobs while advancing Nigeria’s circular economy.
With this initiative, Nigeria joins the league of nations leveraging auto recycling for environmental sustainability, economic growth, and safer roads.
