Business
Taiwo Shittu shares vision for LSM after winning Auto Personality of the Year
Published
1 week agoon
Taiwo Shittu, Managing Director and CEO of Lanre Shittu Motors (LSM), was recently honored as the Auto Personality of the Year at the Nigeria Auto Journalists’ Association 2024 awards.
In an in-depth interview, he reflects on the significance of this recognition, attributing it to hard work, dedication, and the solid foundation laid by his late father.
With a focus on commercial vehicles and emerging technologies like CNG-powered buses, Shittu reveals his ambitious plans to make LSM a household name in Nigeria.
Q: How do you feel about winning the Auto Personality of the Year award?
A: First, I have to express my gratitude to Almighty Allah for this honor. I am deeply grateful for the opportunity and recognition. This award is a testament to hard work and dedication, and it also serves as a reminder to keep raising the bar.
Being acknowledged in such a significant way means people are paying attention to the contributions we make in the industry. This motivates me to work even harder, as we’ve set a standard that must be maintained and elevated. It’s also an opportunity to further strengthen the industry and ensure its continued success.
READ ALSO: Mercedes, BMW, Range Rover Compete for Nigeria’s Luxury SUV Crown at 2024 NAJA Auto Awards
Q: Where do you envision the company in the next five years?
A: Our vision for the future is ambitious but achievable. The credit for our current success goes to my late father, Alhaji Razaq Alanni Olanrewaju Shittu, who built the Lanre Shittu brand.
He left us not only financial resources but also an impeccable reputation, which has opened countless doors for us. Everywhere we go, people recognize the values he instilled in the company: integrity, trustworthiness, and accountability.
In the next five years, we aim to make the LSM brand a household name in Nigeria, particularly in the commercial vehicle sector.
We’ve already launched LSM-branded CNG buses, which are 100% powered by compressed natural gas, and we’re penetrating the market aggressively. Our plans include introducing smaller buses like the 18-seater and 11-seater models and expanding our commercial vehicle offerings to pickups.
Once we establish trust in our commercial vehicles, transitioning to passenger cars will be much smoother.
Ultimately, the goal is to dominate the commercial vehicle market and make LSM synonymous with reliability and innovation in Nigeria. We also see this as a way to immortalize our father’s legacy.
Q: What is the secret behind Lanre Shittu Motors’ success, even after the founder’s passing?
A: It’s a combination of factors: God’s grace, the strong foundation laid by our father, and the unity among his 20 children. One of the most remarkable things about our family is the trust and cooperation we share.
While many businesses falter after the founder’s death due to internal disputes, we’ve remained united. Our father taught us sincerity, commitment, and accountability, and these values continue to guide us.
Another key factor is our focus on sustaining and growing his legacy. Our ultimate aim is to ensure that the company thrives for generations to come, which will be the true measure of success.
Q: What is your relationship with the Mack truck brand in Nigeria?
A: We still maintain a strong relationship with Mack, particularly in terms of spare parts and after-sales support. In fact, we sold the last batch of Mack trucks in Nigeria, and our team continues to provide support to clients in sectors like oil and gas.
This commitment to after-sales service helps us build lasting relationships with customers, making it easier to introduce them to our own LSM brand in the future.
Q: Are the Mack trucks sold eight years ago still operational in Nigeria?
A: Yes, many of them are still on the road. Just last month, I sold 30 Mack trucks. Their durability and our commitment to after-sales service have ensured their longevity.
READ ALSO: JAC truck raises standard, wins Nigeria’s truck, plant of the year awards
Q: Are you partnering with other automakers for the LSM brand?
A: Yes, we are collaborating with reputable automakers, particularly those who are leaders in their segments.
For example, in the pickup segment, we’ve partnered with top manufacturers from China. Our strategy is to work with partners who are ranked among the top three in their respective markets to ensure high-quality products.
Q: What progress have you made with CNG buses?
A: We are currently assembling CNG buses under the LSM brand. It was a calculated risk, but it’s paying off, especially with the government’s push toward CNG-powered vehicles after removing the fuel subsidy.
CNG is a more viable alternative to electric vehicles in Nigeria due to the country’s abundant natural gas resources.
We’ve seen CNG refilling stations rapidly springing up in cities like Lagos, Benin, Abuja, Kano, Port Harcourt, and Ilorin. Our high-capacity CNG buses are already in the market, and by early next year, we’ll introduce smaller models. Passenger vehicles will follow shortly after.
Q: Are you planning to venture into long-distance travel coaches?
READ ALSO: Globe motors, Coscharis, Toyota, Weststar shine at 2024 NAJA Auto Awards
A: Yes, but we missed the opportunity this year due to the extensive planning required. We intend to enter this market by September next year, in time for the end-of-year travel season.
Q: How did your father start the automobile business?
A: He began modestly in the late 1970s with just three vehicles in Aguda, Surulere, Lagos, transitioning from a shoe business to automobiles.
He initially sourced vehicles from Spain and received guidance from Otunba Babatunde Onakoya of Debasco Motors. His honesty and creditworthiness earned him trust, allowing him to grow the business rapidly.
Q: Which brand was pivotal to his success?
A: Daewoo and Rolls Royce were significant in establishing the company’s reputation. In the 1990s, Lanre Shittu Motors was the exclusive seller of Rolls Royce in Nigeria.
Q: Was your father a car enthusiast?
A: Absolutely. He loved cars and owned several iconic models, including a Rolls Royce and later a Mercedes-Benz Maybach. Despite his passion, he was also prudent, changing his main car only every decade.
He was a family-oriented and deeply principled man, and his legacy continues to inspire us every day.
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