Auto Policy : VP Assures Local Industry of Govt’s Support

The Federal Government will always take responsible decision that will promote and protect the local automotive industry, Vice President Yemi Osinbajo has said
Prof. Osinbajo stated this when the management team of PAN Nigeria Limited visited him at the Presidential Villa, Abuja, recently. Osinbajo was pleased by interest shown by reputable auto manufacturers to set up plants in the country on account of the Federal Government's National Automotive Development Policy (NADP)

The Federal Government will always take responsible decision that will promote and protect the local automotive industry, Vice President Yemi Osinbajo has said
Prof. Osinbajo stated this when the management team of PAN Nigeria Limited visited him at the Presidential Villa, Abuja, recently. Osinbajo was pleased by interest shown by reputable auto manufacturers to set up plants in the country on account of the Federal Government's National Automotive Development Policy (NADP)
The NADP has 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. He assured PAN Nigeria of the Federal Government's support and 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 were 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.
The Managing Director said, "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."
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.
Boyi 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.
He called for a law for the National Automotive Development Policy (NADP) to provide confidence for investors and pleaded with the government to review the policy to address the gaps observed in its implementation.