There is the need for the government at all levels to ensure all vehicles to be procured as part of measures to cushion the hardship of the removal of fuel subsidy are purchased from indigenous and reputable automobile companies in the country.
Managing Director of BKG Exhibitions Limited, Mr Ifeanyichukwu Agwu, stated this in an interview with newsmen in Lagos.
He noted that injecting the money into the Nigerian automotive industry would spur more activities to fast track the development of the industry with the attendant socio-economic benefits to the people and economy of Nigeria.
Agwu, who is the organiser of the Lagos Motor Fair/Africa Autoparts Expo, as well as the Abuja International Motor/Nigeria Autoparts Expo, said, “We have companies in Nigeria that could meet up the demand as well as subsequent ones.”
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He noted that the sector had suffered serious setbacks for over a decade now owing to the poor attention paid to it by the government.
He decried the poor implementation of the National Automotive Industry Development Policy Plan (NAIDP) which is in its 10th year.
He said, “No doubt, low sales and lack of clear-cut policy direction, amongst others, have been plaguing the industry which makes it to be in dire need of life support. Injecting the funds for the purchase of these vehicles will go a long way in restoring life and vibrancy to the industry.
“Procuring these vehicles from sources that are not playing big in the Nigerian market will only end in more capital flight out of the country and worsening the precarious state of the nation’s economy.
“More jobs will be created in the benefiting economies while unemployment persists in Nigeria.”