Group tasks FG on proposed N25b car loans

Reported plan by the Federal Government to float a car purchase loan scheme to help Nigerians acquire new made-in-Nigeria cars has been described as a ‘refreshing one’.
  Though details of the operations remain skectchy as at press time, a Group, AUTOBATE at the weekend expressed confidence that the scheme will help move the sector forward.
  National President of AUTOBATE, Edeki Osumah and General Secretary, Sola Olorunfemi in a statement said: “It will help to boom the industry, and also benefit the middle class. 
  “We, however, advise for a well mapped-out, clear and nationalistic guideline that would not short-changed the beneficiaries at the end of it all.
 “It is instructive that caution be taken to ensure that the so-called investors who cut costs only on workers, detest unionization, promote outsourcing and mass casualization exploit the opportunity. They flagrantly disobey the labour laws and global best practices at will, taking advantage of the lack of the political will on the part of our leaders to ensure enforcement.
“AUTOBATE understands the fact that the Federal Government is trying to promote a developmental policy, especially as the recession bites harder, but we feel that this should not be done at the expense of the struggling middle class who really needs this kind of opportunity.
  “AUTOBATE calls on Federal Government to institute public-owned automobile industries so as to widen and deepen the expected development. Industrial standards should also be maintained. This is the safest line to lead in this world of economic downturn so as to promote collective prosperity and robust developments.
 “AUTOBATE warns that that the 25billion naira loan must not be left at the mercy of the greedy bankers who also take advantage of opportunities like this to divert funds to other investments thereby frustrating the supposed beneficiaries”.