Ban Importation Of New Cars To Develop Automobile Sector– PAN Tells FG

The Management of Peugeot Automobile Nigeria (PAN) limited has called on the Federal Government to ban importation of new cars into the country, if it is serious to develop the automobile sector.     

Speaking on behalf of the management, the new Managing Director, Mr Ibrahim Boyi who spoke at a news conference in Kaduna said the fortune of the company has dwindled over the years, because importing new cars into the country is far cheaper than assembling them locally.

Mr Boyi allayed fears that if the federal government does not stop further importation of new cars into the country and patronize local manufacturers, PAN and other local automobile companies in the country will continue to suffer financial setbacks.

While lamenting that government has not protected indigenous automobile companies through formulation of favourable industrial policies and patronage, Boyi emphasized that PAN has the capacity to produce cheap and affordable cars for Nigerians at all levels.

The MD stressed that the management has concluded plans to bring back its former partner, Peugeot France in order to restart assembling of Peugeot brands in the country.

PAN was recently taken over by the Asset Management Company of Nigeria (AMCON) due to its poor financial status and high debt profile.


Source: Channels TV