Agwu: We Are Focused on Developing Nigeria’s Automotive Industry, as 18th Lagos Motor Fair, 11th Africa Autoparts Expo Holds in June

The organisers of the annual Lagos International Motor Fair & Africa Autoparts Expo incorporating the Africa Motorcycle & Tricycle Expo, BKG Exhibitions Limited, have said that the forthcoming edition is designed to reinforce their focus on enhancing the development and attainment of a thriving automotive industry in West Africa using Nigeria as a hub.

According to the Chairman of the organising committee of the fairs, Mr. Ifeanyichukwu Agwu, there will be seminars/Workshops going on simultaneously with the exhibition, from June 4-7, 2024 at the Federal Palace Hotel, Victoria Island, Lagos, the 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.

Agwu said, “Nigeria is endowed with natural, as well as man-made resources to become one of the most vibrant automotive industry giants in the world and as such we, in partnership with other well minded players, will always deploy all we can to see that the country attains this height sooner than expected. “This informs our resolve to use our events, despite the challenges which keep increasing, to support the rapid growth of the industry.

“We have been using the events over the years to drive more investment into automobile spare parts and accessories manufacturing in Nigeria, as well as boosting aftermarket activities in the sector with the objective of showcasing the capacities and potentials of this important sector of the economy.

Mr. Agwu, who is also the Managing Director of BKG Exhibitions Limited, further revealed that to achieve these, this edition of the event would focus on Business-to-Business interface between the exhibiting Original Equipment Manufacturers (OEMs) and major dealers in auto parts from across Nigeria and some neighbouring countries, which he said have been contacted to feature at the event.

“We are aiming at using such a platform to see to working business partnerships between them and the OEMs that will lead to them setting up plants in Nigeria to manufacture parts and accessories. The event aims to spur the rapid springing up of companies that manufacture these components and use it to enhance the policy leading to the establishment of a virile automotive sector in the country.  

The Chairman of the Organising Committee advised the Federal Government to focus more on spare parts manufacturing in place of assembling. “Spare parts 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 the establishment 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 aim.

“Organising the event has been very challenging. We are only trying to find a way to push it as a key event in the sector. We cannot but use the event to draw the necessary attention to the sector. Government should bail out the automobile companies operating in the country. It is a sector that affects virtually everything. It occupies a 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 the 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.

“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 many of them. 

“Over 100 Original Components Manufacturers from China, India, South Korea, South Africa, Singapore, Turkey, Nigeria, etc. including major automobile distributing/manufacturing companies in Nigeria are showcasing at the event. Our intention in bringing them is to enable Nigerians and neighbouring West Africans engaged in automobile, spare parts, accessories, and allied businesses to work out rewarding and lasting business relationships with the main companies engaged in manufacturing these products and services.”