Toyota boss says auto policy is biased

Chairman, Toyota Nigeria Limited, Chief Michael Ade-Ojo has lamented that the Nigerian government’s new auto policy is biased, as it was targeted at some establishments, while it was made to favour others.

Chief Ade-Ojo stated this at the weekend during the company’s 2015 customers and journalists’ award night in Lagos.

This, he said has made the prices of vehicles from the Toyota stable to rise with about 70 percent, while that of its competitor was unaffected because they got wind of the policy direction of the government before it became law.

He however, also stated that Toyota is not opposed to the automotive policy which seeks to encourage local assembly of vehicles in the country, but called for transparence and fairness to all stakeholders in government’s auto policy direction.

Ade-Ojo said the company was already thinking along the direction in tandem with the automotive policy and pledged that the move was a serious plan that should materialise as soon as most of the conditions were met and enabling business climate remained re-assuring.

He said though they made their views know that the policy, and its execution was not fair, coupled with the depreciation in the value of the naira, all complaints fell on deaf ears, as there was no respite.

According to him, no matter the conditions put in place by government, “We won’t run away from our country. It is those making the country difficult that will run away”.

He said no matter the difficulty, Toyota will not be pushed aside, as it is in the market to stay, and that very soon, with the coming of a new government, it is hoped that business will improve.

He also revealed, that following the enactment of the new auto, Toyota Nigeria plans to set up an automobile assembly plant in the country, which is expected to be ready in August this year.

He said, “Many have expressed the view that the time is ripe for Toyota, a consistent leader in the annual new vehicle sales in the country, to set up an assembly plant that will serve the local and neighbouring markets.”

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