The Lagos Chamber of Commerce and Industry (LCCI) Auto Sectoral and Allied Group is set to convene key stakeholders in Nigeria\u2019s automotive, financial and transport sectors to examine how vehicle financing can improve access to affordable and sustainable mobility.\n<\/p>\n
The one-day symposium, scheduled for September 17, 2026, will hold at the Henry Fajemirokun Hall of the LCCI in Victoria Island, Lagos, under the theme, \u201cFrom Subsidy to Credit: Can Vehicle Financing Replace Fuel Subsidy as Nigeria\u2019s Mobility Equalizer?\u201d\n<\/p>\n
The event will focus on the rising cost of vehicle ownership and transportation, access to affordable credit, fleet renewal, automotive lending, leasing and the role of financial institutions in expanding mobility opportunities for Nigerians.\n<\/p>\n
According to the organisers, the removal of fuel subsidy and its impact on transportation costs have created a need to rethink how mobility support is provided in Nigeria.\n<\/p>\n
Rather than relying mainly on measures that reduce fuel costs, the symposium will examine whether a stronger vehicle-financing ecosystem can help individuals, transport operators and small businesses acquire vehicles through affordable and sustainable credit arrangements.<\/p>\n
Discussions will also address major barriers to automotive financing, including high interest rates, short loan tenures, foreign exchange pressures, high vehicle prices and credit risks, as well as the limited availability of financing products designed specifically for Nigeria\u2019s automotive market.\n<\/p>\n
Speaking ahead of the event, Chairman of the LCCI Auto Sectoral and Allied Group and Deputy Managing Director of R.T. Briscoe Nigeria Plc, Dr Femi Eghuaikhide, said the symposium was coming at a critical time for Nigeria\u2019s mobility sector.\n<\/p>\n
He said the focus should move beyond making fuel cheaper to creating systems that make mobility more affordable and sustainable.\n<\/p>\n
\u201cVehicle financing has the potential to become a powerful mobility equalizer if we can develop the right credit structures, realistic repayment terms and strong collaboration between government, financial institutions and automotive industry stakeholders,\u201d Eghuaikhide said.\n<\/p>\n
He added that the symposium would provide stakeholders with an opportunity to move beyond identifying industry challenges and develop practical financing solutions that could support vehicle ownership, public transportation and the growth of Nigeria\u2019s automotive sector.<\/p>\n
Chairman of the Symposium Organising Committee and Chief Operating Officer of Bras Motors Limited, Austin Akpovili, said the event would bring relevant stakeholders together to explore the wider economic implications of mobility.\n<\/p>\n
\u201cWe are bringing the right stakeholders to one table because mobility is not only an automotive issue; it is an economic issue,\u201d Akpovili said.\n<\/p>\n
He explained that the symposium would examine how affordable vehicle credit could improve access to transportation for individuals and businesses while strengthening Nigeria\u2019s automotive ecosystem.\n<\/p>\n
The event is expected to attract automobile manufacturers and dealers, commercial banks, development finance institutions, leasing companies, insurance firms, transport operators, government agencies, policymakers and other players across the automotive value chain.\n<\/p>\n
Stakeholders will also consider how vehicle financing can support the replacement of Nigeria\u2019s ageing vehicle fleet, improve road transportation and stimulate demand for locally assembled vehicles and locally manufactured automotive components.<\/p>\n
The LCCI Auto Sectoral and Allied Group has traditionally used its annual symposium to bring together government officials, business leaders, financial institutions and automotive stakeholders to discuss major issues affecting the industry.\n<\/p>\n
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This year\u2019s theme is expected to shift the conversation from short-term fuel subsidy to long-term access to credit and asset ownership.\n<\/p>\n
The organisers hope the discussions will produce practical recommendations for policymakers and industry players on how vehicle financing can become a key component of Nigeria\u2019s broader mobility and economic development strategy.<\/p>\n","protected":false},"excerpt":{"rendered":"The Lagos Chamber of Commerce and Industry (LCCI) Auto Sectoral and Allied Group is set to convene key…\n","protected":false},"author":2,"featured_media":593508,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[114,143167,1418,1945,1435,163391,160302,2502,293,85,268465,27037,46,268466,268467,268468,217878,5536,303,125],"class_list":["post-593507","post","type-post","status-publish","format-standard","has-post-thumbnail","category-entrepreneurship","tag-business","tag-call-for-applications","tag-clean-energy","tag-electricity","tag-energy","tag-energy-innovation","tag-energy-technology","tag-entrepreneurs","tag-entrepreneurship","tag-il","tag-innovation-challenge","tag-innovators","tag-israel","tag-nesi-innovation-challenge","tag-nesi-week","tag-nigeria-electricity-supply-industry","tag-power-sector","tag-renewable-energy","tag-startups","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/593507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=593507"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/593507\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/593508"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=593507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=593507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=593507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}