By Theodore Opara
The organisers of the an-nual Lagos International Motor Fair & Autoparts Expo Nigeria have disclosed that the fair is aimed at reviving activities in the automotive sector with the objective of showcasing 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 the shine off the industry, thereby making it difficult for stakeholders to showcase the abundant opportunities and offers in the sector. He added that the automotive sector in Nigeria is passing through rough and tough times but what should be on every stakeholder’s mind is how we can unite to combat the challenges, one of which is using the platform of this key event to bring the sector to the front burner of economic discourse in the country.
Re-emphasizing the importance of the event, Agwu 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 pep to promoting the spare parts sub-sector. This is informed by the determination of the organisers to champion the development of the autoparts sub-sector as leeway to fast-tracking the development of Nigeria’s automotive industry. In this edition, as we have been doing for sometime now, we will champion the auto parts section to make Nigeria the hub of the business in Africa.”
Agwu advised the Federal Government to focus more on spare parts manufacturing instead 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 establishment of more original equipment manufacturers and increase employment”, he said adding 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. The 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’s a sector that drives the economy but if it’s badly affected, other sectors suffer. It’s the artery of the economy. Government should parley seriously with the sector stakeholders to seeing how it could be made better.