Taiwo Shittu, managing director of Lanre Shittu Motors (LSM), has called on the National Assembly to enact sustainable policies to drive the growth of Nigeria’s automotive industry.
Shittu made the appeal when the Senate Committee on Industry paid a working visit to the LSM Automobile Assembly Plant in Lagos when the lawmakers inspected the LSM assembly plant, locally assembled trucks, CNG buses and the new CNG conversion centre accredited by the Pi-CNG.
According to Shittu, having a good policy direction would create an enabling environment for businesses to thrive, and attract local and foreign investment into the industry.
He said many people believe in Nigeria and are willing to invest in the country.
He said investors are cautious, waiting for the enabling environment and laws to protect and guide their investments.
Shittu called on the National Assembly to speed up the passage of the Nigeria auto industry development plan bill for the President to sign it into law.
He believed that passing the bill into law would guarantee the best quality products and generate more employment opportunities for Nigerians.
Commending the bold efforts of the executive and the legislative arms, he said the industry is delighted that President Bola Tinubu’s administration is determined to revive the auto industry.
Shittu also informed the Senate Committee about the LSM training scheme that caters for students who could not further their studies but have an interest in automobiles.
“When we find that interest in such persons, we will start paying them immediately after the training programme. Just like ‘Esusu’; we pay them for them to come to work. After four or five years, we get them jobs from major LSM customers,” he said.
“Once the training finishes, we pass them over to fleet operators of LSM trucks. We dictate their salaries and other entitlements with good conditions of service,” he stated.
“Today, some of these people are managing fleets and they are people that ordinarily would have been roaming the streets. But today, with our technical support and their interest, we can take them out of the street by giving them a lifeline,” he explained.
The LSM boss disclosed that LSM has a new four-line assembly plant for the production of windscreens and glasses, batteries, fibres and other components and the CNG conversion centre located in Ogun State that would be commissioned before the end of 2025.
Also speaking, Samson Ekong, senator commended Taiwo Shittu for keeping and sustaining the dream and the legacy of the auto company.
“Our visit is timely, coming at a time when there is a refocusing in the automobile sector. I just want us to share the dream with other Africans.
“What you have done at LSM should throw a larger challenge to other Nigerians, especially our youths. They should not go to sleep and rely on their father’s wealth alone,” he said.
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