Wadada wants President Buhari fast track legislation on automotive policy
The Chairman, PAN Nigeria l.t.d, Alhaji Ahmed Wadada has appealed to President Muhammadu Buhari to fast-track legislation on the automotive policy to enable National Automotive Council (NAC) enforce its implementation.
Wadada in a statement issued on Tuesday in Abuja, assured that PAN Nigeria ltd would lobby the National Assembly to support President Buhari to ensure the enactment of the legislation.
The PAN boss, however, thanked Ptesident Buhari for creating an enabling environment for the company to be able to commit huge investment.
He expressed hope that Buhari would continue to sustain the favourable environment to attract more investors in to the country.
The former lawmaker also appealed to the Central Bank of Nigeria (CBN) to support the company and all other genuine assembly plants by making foreign exchange available for their imports.
Wadada revealed that the company would introduce a robust car financing scheme which would be a collaboration and partnership between its dealership and few selected banks.
” This will be in fulfilment of President Buhari’s wish for Nigerians to afford brand new vehicles, ” Wadada said.
The PAN boss also disclosed that over the next three years, the company would be injecting 150 million dollars for retooling, upgrading of the assembly line, support infrastructure and for working capital.
” We treasure our human capital and strongly believe in them to drive our vision and aspirations for PAN Nigeria.
” That is why we are immensely putting in place an attractive condition of service that will retain and motivate our human capital.
” And also attract the best hands to restore PAN Nigeria to it’s number one position in Nigeria and West Africa.
” In 2019, Nigeria imported at least 400,000 used cars (Tokunbo) as against 68,000 brand new vehicles.
” Because of this imbalances, PAN Nigeria will be introducing new brands of vehicles into the market to re launch brand affordability in Nigeria, such that Nigerians will have access to brand new vehicles.” Wadada said.
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