Bennett  Oghifo

Expressing grave concern, the House of Representatives Committee on Industry has condemned the absence of the federal government’s intensional finance for the manufacture and purchase of vehicles in Nigeria, describing it as a needless lapse in the country’s socio-economic development.

They are also concerned that some Nigerian banks operating in some West African countries, particularly Ghana, provide single digit, low interest loans to vehicle manufacturers in that country and to their citizens for vehicle purchase.

“These Nigerian banks are in Ghana and they are giving facilities for manufacture and purchase of vehicles at single digit, but not in their country of origin. I’ve never understood this,” said the Committee’s Chairman, Dr Enitan Badru, during their visit to the vehicle assembly plant of Toyota Nigeria Limited (TNL) in Ikotun, Lagos, during the week.

The Committee then resolved to invite some stakeholders- the Central Bank of Nigeria, the Bank of Industry, and the National Automotive Design and Development Council (NADDC)- to provide solution to vehicle finance in Nigeria that will enable vehicle manufacturers and prospective vehicle owners take single digit loans from banks in the country.

They also visited the assembly plant of Proforce Limited, defence solutions provider in Ogun State. They were taken on a tour of the facility by the Head of Operations of Proforce, Ayobami Ogundeyin.

Badru lauded the Perforce, saying, “I’m really proud of an indigenous corporation handling defence institution gadgets, and I am also very elated that not only are they doing it right for Nigeria, but they are also doing exports as well.

“To be doing exports means they must have reached some high-quality standards, and from what I have seen, they have got their acts right and are doing something that should be emulated.

“Right now, the Nigerian Army, from what I have learnt, is a stakeholder in this institution, and I am sure by the time we get to some years ahead, they too will be improving because the whole world is not waiting.

“By the time we know it, AI and all that will take over, and so they must be upgrading along the line as well. By the time you wait, thinking you have got something, next year something else is out, so they must be upgraded.”

Director-General, NADDC, Joseph Osanipin, who was part of the visitation, along with some senior management officials of NADDC,  said the agency was proud of what was being done at Proforce because they are not only producing for Nigeria, but were also exporting.

Osanipin said, “We know that enquiries also come; they normally receive enquiries even outside this continent. That shows that other countries are taking note of what Proforce is doing.

“We are very proud of them. We know what other challenges they have. It is beyond what I have observed now; we have a lot of standards. But even with those challenges, they are producing world-class security vehicles, and this is kudos to them.

“We have to appreciate the effort they are putting in and the level they have gotten to. They are not only producing, they are doing a lot of training for different kinds of military personnel — both Police, Navy, Army, Air Force, and many others, even private security personnel. They do training for them, and the training covers a lot of things apart from driving. Not only are they producing, they are innovative and good at what they are doing. They are already into AI, which shows that they are innovative, and that’s what has been keeping them.”