The Managing Director of Toyota Nigeria Limited (TNL), Mr. Kunle Ade-ojo has called on the Federal government to embark on a review of the nation’s auto policy before its passage into law.
Responding to questions in an exclusive interview with Motoring World after the 2019 Toyota Award held in Lagos recently, the TNL boss cancelled that for Nigeria to have a thriving automotive industry, the nation’s auto policy needs to be reviewed before it is finally passed into law
According to him, for the industry to be bigger and better, some aspects of the auto policy need modification.
It would be recalled that the Nigeria’s two legislative chambers passed the nation’s Automotive Industry Development Bill into law since 2017. But, as Motoring World’s investigation revealed, it was never transmitted to President Muhammadu Buhari for signature.
On the delay in passage of the bill, Mr. Ade-Ojo said: ‘’ It is not all about passage of the bill, it is also about looking into whatever needs to be reviewed before it is finally passed. Though, the bill is not passed yet, it is already being implemented. The auto policy is at work. But some aspects of it need review. For instance, the industry is being affected, because of high price of vehicles.”
“Therefore, I think the government is still looking at the implication as far as revenue generation is concerned, because there are still stakeholders, who are not fully for it.
‘’For example, the Nigerian Custom Service (NCS) is losing money from the policy and so would like some form of review. Probably, that is why passage of the bill is being delayed.’’
