Chairman, Peugeot Automobile Nigeria (PAN) Nigeria, Hon. Ahmed Aliyu Wadada has faulted plans by the Federal Government to reduce import duties and taxes for tractors, buses and passenger vehicles.
He then urged the FG to jettison that idea as it would serve as a disincentive to the Nigerian automobile plants and increase unemployment.
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Addressing a press conference on Thursday in Kaduna, Wadada urged the federal government to quickly reverse the plan, which is aimed at boosting the economy in the wake of COVID-19 and other economic challenges.
“We got very disturbing information by the media aide to the Vice President of the Federal Republic of Nigeria that the federal government is slashing down import duties and other taxes on tractors, buses and passenger vehicles.
“This is of concern to us on behalf of other automobile plants, as the leading automobile plant in Nigeria.
“Federal government should take a look at the policy and reverse it for the betterment of Nigerians.
He said Nesbitt Investment Nigeria Limited recently acquired PAN with a plan to inject $150 million within three years. But with such a policy in place how will PAN survive?
“We are calling on the federal government to reverse the policy. The government should resuscitate the steel and petrochemical industries which it has been struggling to do.
“What encouraged Nesbitt Investment to acquire PAN from AMCON (Asset Management Company of Nigeria) is the business environment, the policy of President Buhari administration which before now was encouraging,” he added.
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