The organisers of the annual Lagos International Motor Fair & Autoparts Expo Nigeria have disclosed that the forthcoming edition of the Fair is aimed at revving activities in the sector.
The objective, according to them is to showcase the capacities and potentials of this important sector of the economy. According to the Managing Director BKG Exhibitions Limited, Mr. Ifeanyichukwu Agwu, who is also the Chairman of the Organising Committee for the event, the seemingly intractable lull in the sector is taking a lot of shine off the industry, making it difficult for stakeholders to showcase the abundant opportunities and offers in the sector.
â€œFromÂ May 7-12, 2018Â at the Federal Palace Hotel, Victoria Island, Lagos, venue of the event; each of those days that the fair will last is loaded with activities and events that will make this edition remarkably rewarding to the exhibitors, visitors and other stakeholders,â€ Agwu said.
It is no longer news that the automotive sector in Nigeria is passing through rough and tough times, but what should be on every stakeholderâ€™s mind is how to unite to combat the killing challenges. One of such is using the platform provided by this key event to bring the sector into the front burner of economic discuss in the country, he said.
Re-emphasising the importance of the event, Agwu said that using the campaign of â€œOne Expo; Continental Spreadâ€ 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.Â â€œWe are going to add more pep to promoting the spare parts sub-sector.Â
This is informed by the determination of the Organisers to champion the development and thriving of autoparts sub-sector as leeway to fast-tracking the development of Nigeriaâ€™s automotive industry.
â€œIn 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.â€ Â
The Chairman of the Organising Committee advised the Federal Government to focus more on spare parts manufacturing in place of assembling. Spare parts production is 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.â€
He said that there should be a review of the ongoing auto policy to make it achieve the desired ends. The sector is very important as it shows physically the state of the economy and it generates much revenue and creates enormous employment. No serious government toys with it. Auto sector was one of the key sectors that received bailout from the American government during the last global economic meltdown and it helped to revamp the economy. It is a sector that drives the economy; if it is badly affected, other sectors suffers. It is the artery 0f the economy. Government should parley seriously with the sector stakeholders to seeing how it could be made better.
â€œOrganising the event has been very challenging we are only trying to find a way to push it as a key event the sector we cannot but use the event to draw the necessary attention on the sector . Government should bail the automobile companies operating in the country. It is a sector that affects virtually everything. It occupies prime position in the economy. If it is not done now it will in the very near future affect a whole lot in the life of the people and economy. The challenges of hosting this event is becoming daunting but our drive in continuing is that the sector must not be allowed to die.
Urging every stakeholder to endeavour to show up at the event billed to take place at the Federal Palace Hotel, Ahmadu Bello Way, Victoria Island, Lagos fromÂ May 7-12, 2018; Mr. Agwu added that doing so will be an opportunity for all to show the strength and ruggedness of the players in the sector.-the policy inconsistencies notwithstanding. â€œWithout 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.
â€œThe Autoparts Expo segment of the event is doing well and we are looking at involving a lot countries in West and Central Africa in the edition. This we have kick-started by extending invites to players in the autoparts business in those countries to visit the fair. We are aiming at using the Nigerian Autoparts markets as the hub of the sectors business in Africa. The intention is to make them [players from the other countries] to be buying from the Nigerian markets. In no distant future it 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.
In conjunction with our foreign partners, we have reached out to many of such companies and happily the response has been tremendous and we are expecting close a lot of them. Our intention in bringing them is to enable Nigerians and neighbouring West Africans engaged in auto spare business work out rewarding and lasting business relationships with the main companies engaged in the manufacture of auto spare parts.