Managing Director and Chief Executive Officer of Lanre Shittu Motors (LSM), Taiwo Shittu, has called on the federal government to make sustainable policies that will drive and transform the automotive industry in Nigeria.
Shittu spoke when the Senate Committee on Industry paid a working visit to LSM Automobile Assembly Plant in Lagos recently where the senators inspected the locally assembled trucks and CNG buses as well as the new CNG conversion centre accredited by the President Compressed Natural Gas Initiative (PCNGi).
He stated that having an enabling policy in place is critical to driving investment in the sector.
Daily Trust reports that stakeholders in the auto industry had stressed the imperative of passing the Nigerian Automotive Industry Development Plan (NAIDP) Bill into law amidst a decade of delay.
The LSM boss observed that there are many young people who strongly believe in Nigeria and are willing to invest in the country, saying most of them are cautious, waiting for the enabling environment and laws to protect and guide their investments.
Shittu said, "I am very delighted to hear very recently President Bola Ahmed Tinubu renewing his administration's determination to revive the auto industry."
He called on the National Assembly to speed up the passage of the NAIDP Bill for the President to sign it into law.
The LSM boss commended the bold efforts of the executive and the legislative arms, adding that the eventual enactment of the law would guarantee the best quality products and generate more employment opportunities for Nigerians.
He disclosed that LSM has a staff strength of 418 with two expatriates, adding that the auto assembler is ready to do more.
Shittu also informed the visiting Senate Committee members about the LSM training scheme to cater for students who could not go further in their studies but have interest in automobiles.
The managing director promised that a new LSM four-line assembly plant for the production of windscreen and glasses, batteries, fibers and other components as well as the CNG conversion centre located in Ogun State would be commissioned before the end of 2025.
Also speaking, Senator Samson Ekong commended Taiwo Shittu for keeping and sustaining the dream and the legacy left behind by the late Lanre Shittu, the founding chairman of LSM.
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He said, "What you have done at LSM should throw a larger challenge to other Nigerians, especially our youths. They should not go to sleep and rely on their father's wealth alone. They should aim at doing better.
"Our visit is timely, coming at a time when there is a refocusing in the automobile sector. I just want us to share the dream among other Africans and I am sure your father will be very happy with what is going on at LSM after his death."
