Management of Anambra Motor Manufacturing Company Limited (ANAMMCO) located in Emene, Enugu state has appealed to the federal government to urgently review the 2020 Finance Act and National Automotive Policy.
Uche Okeke, executive director of ANAMMCO last Thursday when the board members of the National Automotive Design and Development Council (NADDC) visited the company, made the appeal. Okeke said the review became important considering challenges faced by vehicle manufacturing companies in Nigeria.
He accused the Federal Government of crippling automotive industries through policy somersault, adding that the development frustrates local and foreign investors, and hoped that with government’s support, industries will be capable of providing job opportunities for the teeming youth. The ANAMMCO executive director said the company had the capacity to employ 2,000 persons as well as produce cars that could compete with vehicles produced elsewhere.
According to him, ‘’It was cheaper to produce locally than importation of vehicles and urged the federal government to reconsider the 20 percent excise duty on raw materials imported into the county. Apart from assembling vehicles, Okeke explained that ANAMMCO has a training institute where people are trained on vehicle maintenance. He commended NADDC for always ensuring that ANAMMCO did not shut down its operations especially when it faced a downturn.
Board Chairman of NADDC, Osita Izunaso, a former senator said the council would look into the issues raised by ANAMMCO with a view to finding lasting solutions to them. Izunaso admitted that many vehicles manufacturing companies in the country witnessed a downturn due to policy changes.
He said the board was working with private sectors to turn the fortunes of the automotive industry around. The NADDC chairman pointed out that, the facility tour of the company gave them more insight into the need to review the 2020 Finance Acts and Automotive policy as part of measures to suit reality on the ground.
Osita Izunaso encouraged ANAMMCO management not to be dismayed by the current challenges, saying it had the potential to become a giant vehicle manufacturing company in Nigeria.
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