By Patience Santos

The Manufacturers Association of Nigeria (MAN) has urged the Federal Government to involve local automobile companies in producing the promised 3,000 units of 20-seater buses running on compressed natural gas (CNG) to improve transportation across the country.

In response to President Bola Tinubu’s nationwide broadcast, where he pledged N75 billion to boost the manufacturing sector and mitigate the effects of fuel subsidy removal, MAN’s Director General, Segun Ajayi-Kadir, commended the interventions. He stated that removing the constraints on the productive sector would have more significant benefits than nominal palliatives.

Ajayi-Kadir appreciated the promise of N1 billion credit at 9% interest rate per annum for 75 manufacturing enterprises between August 2023 and March 2024. However, he emphasized the importance of careful selection and diligent monitoring of the delivery vehicles for these loans. He suggested that the Bank of Industry (BoI) would be a suitable transaction structure for such facilities.

Regarding the procurement of 3,000 buses, the MAN DG stressed the importance of fulfilling the promise by sourcing the vehicles from indigenous automobile industries. He saw this as an opportunity for the government to demonstrate unwavering commitment to implementing Executive Order 003, which prioritizes the patronage of made-in-Nigeria products.