Shittu calls for auto policy reform.
By Justina Okpanku
Lanre Shittu Motors (LSM) which was bestowed with a prestigious NAJA award of excellence in the automotive sector in Nigeria in 2024 has added another feather to its cap. The auto firm clinched Vanguard Newspaper Auto Icon award, recently.
Again, Managing Director of Lanre Shittu Motors, Taiwo Shittu, dedicated the Vanguard award to his father, Alhaji Rasaki Shittu (late) who was the founder of the leading auto firm (LSM).
Shittu who spoke shortly after receiving the award plaque at Eko Hotels & Suites Lagos, venue of the event, used the opportunity to also appreciate his siblings who lent him their support in running the family business.
“I will dedicate the award to my late father. He was visionary and had groomed us to stand on our own. I remain indebted to him,” he said.
On how he felt about the award, he said: “First of all, I give glory to the almighty Allah for making it possible to be so honoured. I feel good about the award. It is a challenge; an award that tells me the need to do more; that people are looking up to me and I’m encouraged to see that l still have a lot more to give to the auto industry.”
He added that “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 giving me the opportunity to lead them in this business.”
On the future plans of the company, Shittu 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.
On the auto industry, he called on the government to give legal backing to the auto industry policy by ensuring that the National Assembly passes it into law, noting 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 MD who revealed that his company has already identified with the President Bola Tinubu policy on CNG, converting many vehicles to CNG fuelling, nonetheless 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.”
