FG laments N2.9tr wasted on vehicles importation

….PAN, Innoson, Stallion receives commendation over N360bn investment in local auto Industry

MIKE OCHONMA

Aliyu Jelani, director-general and chief executive of the National Automotive Design and Development Council (NADDC), has on behalf of the federal government commended Peugeot Automobile Nigeria (PAN), Innoson Vehicle Manufacturer (IVM), Stallion automotive group and other local automobile manufacturers for investing over N360billion ($1billion) annually into Nigeria’s Auto industry.

Jelani however, frowned at the over N2.9 trillion ($8 billion) that leaves the country annually for importation of over 300,000 to 400,000 used and old cars. The NADDC DG made the disclosure at Nigeria’s first parade of indigenous auto manufacturers and assemblers of different brands of vehicles.

Also speaking at the event, PAN’s executive director on charge of sales and marketing, Shehu Sani Dauda, said the company was excited to be at the event, expressing optimism for the brand leading others at the just concluded event.

On the multi-brand variant being launched by PAN, he said: “We are now multi-brand; we brought in one of our latest buses which are overdue to come on board into our brand. It is a rugged and affordable bus.

“It is built with several options like TV, USB points for every customer, creatively made to carry luggage with maximum comfort for users and customers.”

Daudu said the Peugeot brand was exceptionally prepared for the Argungu rally which kicked off noted that PAN 508 was built for ruggedness and reliability.

He expressed hope that, with the ongoing innovation and effort of the NADDC, PAN will return to higher production with patronage to take the country back to glory when it was producing 90,000 cars with 4,000 employees on its payroll.

Flagging off the event, the Minister of Industry and Investment, Adeniyi Adebayo, commended the NADDC and manufacturers on their innovations at showcasing Nigerian cars.

He said that the President Muhammadu Buhari administration will explore every avenue to use the auto industry for job creation.