Auto Sectoral and Allied Group, an arm of the Lagos Chamber of Commerce and Industry (LCCI)  is set to convene key stakeholders in Nigeria’s automotive, financial and transport sectors to examine how vehicle financing can improve access to affordable and sustainable mobility. 

The one-day symposium is expected to be held on September 17, 2026 in Lagos, under the theme, “From Subsidy to Credit: Can Vehicle Financing Replace Fuel Subsidy as Nigeria’s Mobility Equalizer?”

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.

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.

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.

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’s automotive market.

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’s mobility sector.

He said the focus should move beyond making fuel cheaper to creating systems that make mobility more affordable and sustainable. Booking Historical Guided

“Vehicle 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,” Eghuaikhide said.

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’s automotive sector.

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.

“We are bringing the right stakeholders to one table because mobility is not only an automotive issue; it is an economic issue,” Akpovili said.

He explained that the symposium would examine how affordable vehicle credit could improve access to transportation for individuals and businesses while strengthening Nigeria’s automotive ecosystem.

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.