5th August, 2015
Daniels Ekugo
Vice President Prof. Yemi Osinbajo has assured local vehicle manufacturers that the new administration will always take a responsible decision that will promote and protect them.
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.
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 assembly plants in Nigeria, because you started the assembly plant with government many years ago,” he stated, assuring PAN Nigeria of the support of the new administration, under the leadership of President Muhammadu Buhari.
He expressed his pleasure with the quality, standard and beauty of Peugeot vehicles now on offer to customers.
Osinbajo added that Nigerians resort to imported cars, either new or fairly used (tokunbo) 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 Osinbajo of the company’s support and prayers for the new administration to succeed.
“We have no doubt about your commitment; we have no doubt about 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 said.
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 the 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.
He said even with that, the company suffered hardship leading to massive job losses, closure of many local component manufacturers’ shops, its dealerships, amongst others.
Boyi 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 legislation on 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.