… deepens value in commercial segment via new brands
In support of the President Bola Tinubu’s initiative of promoting natural gas as alternative fuel for automobiles in Nigeria the Managing Director of Lanre Shittu Motors (LSM), Mr. Taiwo Shittu, has said that the firm has started with the Compressed Natural Gas (CNG) buses found to be cheaper than petrol or diesel.
According to the Managing Director said already some of LSM-branded CNG buses were recently unveiled as airport shuttle in Lagos by the Minister of Aviation, Mr. Festus Keyamo.
LSM, one of the renowned auto companies in Nigeria also unveiled its plan to add more value to the auto commercial segment with its newly unveiled LSM brand.
Shittu said the auto firm is pushing its LSM brand hard to dominate the commercial segment of the market in Nigeria.
Lanre Shittu Motors was one of the biggest winners at the recent 2024 Auto Awards organised by the Nigerian Auto Journalists Association (NAJA) held in December at the Oriental Hotel, Victoria Island, Lagos.
The Managing Director, Taiwo Shittu, was honoured as the 2024 Personality of the Year in recognition of his remarkable contributions to Nigeria’s Automotive Industry.
The Company’s JAC trucks also won the Heavy Duty Truck of the Year category, while the late founder of the company, Alhaji Olanrewaju Shittu, was celebrated posthumously for his pioneering role in shaping Nigeria’s Auto Sector, leaving behind a lasting legacy.
He said: “I see us growing the LSM brand name to become a more sought-after brand in Nigeria. We are starting off with the commercial vehicles.
“Already, we have the LSM-branded CNG buses, 100 per cent CNG buses, in Nigeria.
“Right now, we are penetrating the market with the CNG buses. We want to bring in the smaller buses; the 18-seater and 11-seater buses (Korope). We have the pickup too, which is also a commercial vehicle lined up.
“From experience, I can tell you that once the commercial sector has tested and found your brand worthy, it will be very easy to migrate to the passenger cars.”
He also said: “One of the reasons we are coming out with the LSM brand is to immortalise our late father’s name.
“We see ourselves taking a big chunk of the commercial vehicle segment in Nigeria in the next five years and making the LSM a household name in Nigeria.
“Lanre Shittu Motors as a company is a household name already, doing other automakers brands.
“But we want to shift the focus to the LSM brand with high after-sale service. We had represented a lot of brands in the past such as Mack, Yutong, Sany and JAC; we have learnt so much in 43 years from the industry on how to build a brand to penetrate the market; the support and the communication.
“The good name and goodwill will be added advantages for us.”
Commenting on the awards, the LSM Managing Director expressed gratitude to God, and his late father who laid a solid foundation for the business and their teeming customers for believing in them.
He said the awards would propel the team to continue to do more in the industry despite the daunting challenges.
“I give God the glory for what we’ve done so far. The credit goes to my late father, Alhaji Razaq Alanni Olanrewaju Shittu, for building the brand name.
“There is nothing like a good name. If you don’t leave anything for your children other than a good name, the sky is the limit for them. In our own case, he left us money and a good name.
“We can’t thank him enough for leaving us with a good name. You can imagine that everywhere we turn to in the country, once we mention we are Lanre Shittu’s sons, we are ushered in immediately.
“People would say ‘your father was a good man. He won’t cheat if you did any business with him. His word was his bond; he never broke his promises.
“I have heard this many times. And the only thing we can do is to build on this legacy,” Shittu recounted.
He recalled how his father started the automobile business in Lagos decades ago.
“He started the automobile business small, with three vehicles at Aguda, in the Surulere area of Lagos. It was from a shoe business that he switched over to the auto business.
“In starting, he travelled with his wife out of the country to buy things including the vehicles around 1978. He bought the vehicles in Valencia, Spain,” he recalled.
Shittu also said, “my father was seen as creditworthy, so people trusted him and were always willing to give him vehicles on credit.”