‘Lagos Motor Fair to Encourage Activities in Automotive Sector’

By March 29, 2019 Investment News

Organizers of the yearly Lagos International Motor Fair and Autoparts Expo Nigeria have revealed that the forthcoming edition of its fair is poised at reviving activities in the sector.

The firm, BKG Exhibitions Limited also said the expo will showcase capacities and potentials of the sector thereby improving the economy.

Managing Director, of the company, Ifeanyichukwu Agwu, said the seemingly intractable lull in the sector is taking a lot of shine out of the industry making it difficult for stakeholders to showcase the abundant opportunities and offers in the sector.

Agwu said it is no longer news that the automotive sector in Nigeria is passing through rough and tough times, saying “what should be on every stakeholders’ mind is how do we unite to combat the challenges one of which is using the platform to bring the sector into the front burner of economic discuss in the country.”

Re-emphasizing the importance of the event, he said using the campaign of “One Expo; Continental Spread” the event aims at showcasing the importance of the Nigerian market as the hub of automotive business in Sub-Sahara Africa; and one that is highly rewarding for investments.

“We are going to add more energy to promoting the spare parts sub-sector.

This is informed by the determination of the organizers to champion the development and thriving of auto parts sub-sector as leeway to fast-tracking the development of Nigeria’s automotive industry.

“In this edition as we have been doing for sometimes now we will champion the autoparts section to seeing to making Nigeria become the hub of the business in Africa.

We want to make it a strong point of real taking off of a realizable auto policy”.

Agwu who doubles as Chairman of the Organizing Committee for the event, advised the Federal Government to focus more on spare parts manufacturing in place of assembling.

According to him, spare parts are the place where the real technology transfer takes place. It involves precision and proper planning more than the coupling that takes place in assembling.

This will give rise to establishing of more Original Equipment Manufacturers and increase employment. He said that there should be a review of the ongoing auto policy to make it achieve the desired ends.

While urging all stakeholder to show up at the event billed to take place at the Federal Palace Hotel, in Lagos from May 6-11, 2019; Agwu added that doing so will be an opportunity for all to show the strength and ruggedness of the players in the sector.

“Without re-fleeting, accidents rates will increase astronomically; calling on government to really think deep about developing this sector.

In unison the stakeholders can put the issues of the sector in the front burners of economic discuss and policy in the country.

“In no distant future the event will become a big event spreading to other countries in the continent.

Nigeria has the resources and capacity to play such a role and it will be a very big disservice to Nigeria and its people if another African country does this ahead of Nigeria,” he added.

Source: TheGuardian