Auto Policy - Vp Assured Local Industries Of Govt'S Support


Vice President Yemi Osinbajo, has assured the local vehicle industries that the new administration will always take a responsible decision that will promote and protect the local industries. He gave the assurance when he received the Management of PAN Nigeria Limited when they paid him a congratulatory visit in his office, at Presidential Villa Abuja.

The Vice President Osinbajo expressed delight with the interest generated by the Federal Government's National Automotive Development Policy (NADP) which so far has attracted about 15 automobile plants into the country. "Peugeot has an advantage over all the assembled plant in Nigeria, because you started the assembly plant with government many years ago." The Vice President stated, assuring PAN Nigeria the support of the new administration, under the leadership of President Muhammadu Buhari. He expressed his pleasure with the quality, standard and beauty of the Peugeot vehicles now on offer to customers.

The Vice President however added that Nigerians resort to imported cars, either new or 'tokumbo' because they believe that these cars are cheaper. He therefore hoped that PAN being the leader of automobile sector in the country would work towards making their cars more affordable, without compromising quality that it was known for over the decades.

Reacting, the Managing Director, PAN Nigeria Limited, Mr. Ibrahim Boyi congratulated the Vice President on their election and successful inauguration. He assured the Vice President of the company's support and prayers for the new administration to succeed.

"We have no doubt on your commitment; we have no doubt on your ability to deliver. We also have no doubt that your election will certainly give Nigerians new lease of life and opportunities. We will continue to pray for your success to enable this administration meet the lofty expectations of the masses." The Managing Director said.

Mr. Boyi who took time to intimate the Vice President about the company, its past, present and the future plans, expressed dissatisfaction with some previous government policies which led to demise of the first generation Auto assembly plants in Nigeria. He explained that PAN was able to survive due to the dogged interest exhibited by its technical partner, AP France and the financial intervention of the Asset Management Company (AMCON), the new owners of PAN. The Managing Director said even with that, the company suffered hardship leading to massive job losses, closure of many local component manufacturers, its dealerships, amongst others.

He prayed that the new dispensation should do all it could to revive the company to enable it regain its largest share in the country's automobile sector. Mr. Boyi called for the legislation of the National Automotive Development Policy (NADP) in order to provide confidence for investments and pleaded with the government to review the policy to address the gaps observed in its implementation.