Onu Tasks Automobile Industries On Research | Independent Newspapers Limited
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Onu Tasks Automobile Industries On Research

Posted: Mar 23, 2016 at 3:27 pm   /   by   /   comments (0)
Dr. Ogbonnaya Onu, has called on automobile industries in Nigeria to invest in development research to achieve sustainability toward market forces.
Mr. Taye Akinyemi, his Chief Press Secretary, stated this in a press release on Wednesday.
He said that Dr. Onu made the call when the management team of Peugeot Automobile Nigeria (PAN) paid him a courtesy visit.
He quoted the minister as saying that deepened research would enable the industries withstand developments that might arise as a result of competitions and unstable market forces.
“Onu noted that all the automobile companies that made positive impacts on the economy in the 80’s and 90’s collapsed because they did not invest in research and development projects,” Akinyemi said.
He also said that the minister told the team that multinationals companies all over the world always site research institute in their laboratory and factory to enable them plan and carry out their developmental projects.
“Onu expressed appreciation for the contributions some companies made to support the growth of small scale industries in the country.
“He appealed to Nigerians to look inward and patronise locally made goods, adding, “we have the largest market in Africa; we have the largest economy on the continent,” he said.”
Ibrahim Boyi, PAN Managing Director, had disclosed that PAN was the only automobile company in Nigeria that remained in operation till date and called for active government policy for its continued survival.
The PAN boss said the company which produced reliable vehicles in the past and had also achieved 40 per cent local content in the 80’s has assembled two plants locally.