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By Moses Akaigwe
The managing director of Lanre Shittu Motors (LSM), Mr. Taiwo Shittu, has appealed to the Federal Government to give legal backing to the auto industry policy, by ensuring that the National Assembly passes the planned executive bill into law, and assented to by the President.
The LSM managing director spoke recently after receiving the Auto Icon award in Lagos, which he dedicated to his late father and founder of LSM, Alhaji Rasaki Shittu.
He emphasized the importance of the auto policy as stated in the 2023-2033 Nigerian Automotive Industry Development Plan (NAIDP), saying, “To win any investors from any part of the world, you must guarantee their investments. And you can only give that guarantee by a well-articulated policy duly signed into law.”
Taiwo Shittu revealed that his company has already identified with President Bola Tinubu’s clean energy policy, and has converted many vehicles to compressed natural gas (CNG) fuelling.
However, he added: “The special waiver being enjoyed by those involved in the CNG and electric vehicles should be extended to other auto assembly plants.
“Extending the waiver to the plants will see an immediate reduction in prices of locally assembled vehicles by 17.5 per cent. This will make more dormant assembly plants to become vibrant. It will also create job opportunities for a large number of people in Nigeria.”
The LSM managing director dedicated the Auto Icon award presented to him by Vanguard Media Limited, to his late father, Alhaji Rasaki Shittu, who founded the company decades ago, and nurtured it to become one of the biggest players in the automotive sector of the economy.
Taiwo Shittu who stated this shortly after receiving the award plaque at the Eko Hotel Lagos, venue of the event, used the opportunity to also appreciate his siblings for trusting him to successfully run the vast business empire bequeathed to the family by the late patriarch.
According to Taiwo, “I will dedicate the award to my late father. He was visionary and groomed us to stand on our own. I remain indebted to him.”
On how he felt about the award, he said, “First of all, I give glory to almighty Allah for making it possible to be so honoured. I feel good about the award. It is a challenge; an award that tells me the need to do more; that people are looking up to me and I’m encouraged to see that l still have a lot more to give to the industry.”
He added, “We also have a family that is supportive in ensuring that the legacy of our late father is sustained. Even those who are not in the business are pushing to ensure that it continues to succeed. I will always thank my 19 siblings for giving me the opportunity to lead them in this business.”
On future plans of the company, the MD said aside from consolidating on the newly introduced LSM brand, the firm intended to open the first phase of its bigger auto assembly plant in Ogun State later this year.
