The Managing Director of Lanre Shittu Motors (LSM), Taiwo Shittu, has called on the government to give legal backing to the auto industry policy, by ensuring that the National Assembly passes it into law.

He noted that “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”.

The LSM MD, who revealed that his company has already identified with President Bola Tinubu’s policy on CNG converting many vehicles to CNG fuelling, added that “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,” he noted.

Shittu who stated this shortly after receiving the award plaque at the Eko Hotel Lagos, Lagos, appreciated his other siblings for trusting him to run the family business.
He dedicated the Vanguard Newspaper Auto Icon award he recently won to his late father and founder of LSM, Rasaki Shittu.

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 allowing me to lead them in this business.”

On plans of the company, the MD said apart 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.