The speed limiting device being manufactured in Nigeria is better and cheaper than the imported ones, Minister of Science and Technology, Ogbonnaya Onu, has said.
Onu, who spoke with the correspondent of the News Agency of Nigeria in New York, said made-in-Nigeria device was a research product where Nigerians in Diaspora could make legitimate money.
The Federal Road Safety Commission, FRSC, began the enforcement of the installation of the device in commercial vehicles in February.
He said: “Our Road Safety Commission has mandated all our commercial vehicles to deploy speed limiting device and we import this; each one costs an average of N40,000. So, for just one million vehicles, we are looking at N40 billion, that’s the business.
“But ultimately, this enforcement will go round. So, if you have 10 million to 20 million vehicles, you can imagine looking at almost N800 billion businesses.
“One of our agencies, Sheda Science and Technology Complex, SHESTCO, brought the device to me; it is better than the best that is being brought into the country. And I still asked them to go and work and get it to be cheaper and better.”