| Nigeria: We’ll solve row over Volkswagen | Send to a friend |
| Tuesday, 17 August 2010 23:06 |
 ABUJA, Tuesday Nigeria has set up a committee to resolve all conflicts involving the sale of the shares of Volkswagen Nigeria Ltd and ensure that the company commences operation within two weeks.The company Nigerian Vice President Namadi Sambo (pictured) announced the setting up of the committee at a meeting with some stakeholders in the automobile industry in Abuja yesterday. Mr Sambo said the committee would also resolve issues bordering on acquisition and functioning of the company.He said the committee comprised of some key stakeholders in the automobile industry, Bureau for Public Enterprises and the Vice President's Office. The Vice President said the setting up of the committee was in pursuit of government's desire to revitalize the automobile industry.He said government was looking for solutions to the problems facing the industry in order to bring all automobile companies back to life. "Now that government has invested much in the power sector, there is need for the automobile industry in the country to come back to life," he said. According to the vice president, the Central Bank of Nigeria was working out modalities to raise a 200 billion naira -bond to rejuvenate the sector.Sambo said government had set machinery in motion to intervene in the Peugeot Automobile Company of Nigeria. He said government was also determined to resuscitate Volkswagen Nigeria Ltd, ANAMCO, Steryr Company based in Bauchi, Fiat in Kano as well as Leyland in Ibadan.The vice president expressed concern over the condition of privatized enterprises in the country. Mr Sambo, who said privatization was not solely about the money realized from the sale, added that the exercise was to ensure that the companies were functional so as to provide employment to Nigerians and add value to the economy. He lamented that by now, Nigeria should be producing its own cars like Brazil and Iran which started the same way the country did. Xinhua Add this page to your favorite Social Bookmarking websites           |
