National President, Road Transport Employers Association of Nigeria, RTEAN, Alh. Musa Isiwele Shehu has urged the federal government to initiate policies that will secure the nation’s automobile industry for investors.
Shehu, who gave the charge in an interview with Nigerian Pilot in Abuja, noted that the automobile industry in Nigeria has the resources and the manpower required for the production of automobiles to equal its counterparts in the world.
He said that when initiated, the policy should enable investors in the industry to channel their efforts towards making long-term investment plans and profit.
In his words, “It is important that we create a very stable environment for people that are investing to have the assurance that things will not continually change as have been the case in this country in the past few years.”
He added, “We would attract investments. If we attract investments, then we will gradually get to where we want to go.
“There must be a little birth pain that we have to go through, after which we can then have a level and competitive playing field.”
He said “If we keep having ‘tokunbo’ used cars flood the market, the volume produced locally would be small and the prices will be high, and that was the rationale for the tariff structure to support the local assembly facilities such that they can produce in high numbers”.
The national president noted that political will on the part of the government was needed to achieve success in this area.
“We want a situation in which we can produce cars at about the same price like others, as a lot of our people spend much on buying five, seven year-old cars, which will never pass any emission test anywhere in the world,” the RTEAN boss stated.

READ ALSO  Interbank rates rise on tight liquidity

Ad:See How you can turn $500 into $10,000 Click HERE For Details.