Industrialist tasks FG on automobiles import regime
A renowned industrialist, Chief Cosmas Maduka has advised the Federal Government on the need to urgently review the country’s import policy regime on automobile industry in order to position it properly for sustainable growth and development.
Chief Maduka who spoke at the formal event of the unveiling of a new ultra-modern Assembly Plant by the Coscharis Group in Lagos, stated that the present import policy for automobiles was unfavourable, hence government should create enabling environment to enhance growth of the industry.
According to the foremost industrialist who also is President of Coscharis Group, the current practice whereby federal and state government agencies invested on the purchase of used and obsolete brands of automobiles for businesses is counterproductive and, in that respect, government must explore growth opportunities in the sector by directing investments on production of new brands of automobile.
“It is embarrassing that some government agencies today are buying used vehicles to support their businesses,” adding, “This definitely will not encourage the automobile industry.”
Coscharis Group in conjunction with its business partner, Renault automobile of France have jointly established an ultra modern assembly plant estimated to cost about N1.75 billion. The assembly plant will enable massive production of new brands of automobile vehicles for users in Nigeria market.
Chief Maduka noted that the move by the company to commit huge investment in the new plant was to demonstrate strong commitment and believe and faith on the future of growth of the automobile industry in the country.
He added: “Having demonstrated this level of faith in the future of our dear nation by the huge investment we have made, we will continue to make and strongly demand support in terms of enabling environment from the government for the infrastructural development and, of course, the patronage that should be required.”
The unveiling event of the new plant which took place at the premises of the company’s head office in Awoyaya, a Lekki suburb in Lagos, also signal the formalisation of the business partnership between the automobile giants, and it was witnessed by dignitaries cutting across various sectors of the Nigerian economy, including public and private sector practitioners, foreign diplomats and the arts.
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