June 2, 2023

Auto Policy: Expert advises FG on spare parts production

Auto Policy: Expert advises FG on spare parts production

File image of spare parts shops.

…As Lagos Motor fair/Autoparts expo  kicks off

By Theodore Opara

FOR the nation’s comatose auto sector to thrive again, an expert in the industry, Mr. Ifeanyi Agwu has advised the Federal Government to focus more on spare parts production rather than full vehicle assembling. Mr  Agwu,  Managing Director of BKG Exhibitions, organisers of the Lagos and Abuja Motor shows gave the advice while briefing newsmen on the forthcoming Lagos Motor Show and auto spare exhibition scheduled to hold at the Federal Palace Hotel, Lagos from June 6, to 9.

While calling on the government to quickly review the much delayed nation’s auto policy to reflect his advice, the BKG boss said that his close to three decades experience in the industry shows that: the real technology transfer in the auto sector which the Federal Government is looking forward to, lies in the spare parts production. He  added that spare parts production involves precision and proper planning and also gives rise to the establishment of more Original Equipment Manufacturers which in turn create more employments.

According to him, about 100 auto firms, mainly foreign Original Equipment Manufacturers, are billed to attend this year’s edition of the Lagos International Motor Fair and Autoparts Africa Expo. Agwu who doubles as chairman of the organising committee said that the event is aimed at driving more investments into automobile spare parts and accessories manufacturing in Nigeria. He said apart from showcasing the best of products in the industry, auto part makers from China, Europe and other ountries would be looking forward to meeting genuine local investors with a view to setting up manufacturing firms in Nigeria.

According to Agwu, Nigeria has all it takes to be a thriving hub of auto spare parts manufacturing not only for the West African region but also in southern Africa. This, he stressed, was based on Nigeria’s huge market and large population. He revealed that to achieve this, this year’s edition of the event would focus on Business-to-Business interface between the exhibiting Original Equipment Manufacturers, OEMs, and dealers in auto parts from major auto markets across Nigeria and some neighbouring countries. “We are aiming at using such platform to see to working business partnerships between them and the OEMs that will lead to setting up plants in Nigeria to manufacture parts and accessories,” he stated.

Agwu, therefore, advised the Federal Government to focus more on spare parts manufacturing rather than vehicle assembling, adding: “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 listed some of the confirmed exhibitors as Coscharis Motors, 11Plc, [formerly Mobil]-Gold Participant, Michelin Nigeria, Weststar Associates, Hubei Shuangju Industry &Trade Company Limited, Xgm Corporation Limited, Quanzhou Mingyang Automobile Parts Co, Ltd, Xingtai Changshuo Mechanical Parts Co, Ltd, Tantivy Automotive Co, Ltd, and Shijiazhuang City Kabang Valve Manufacturing Co Ltd.” According to him, “the Autoparts Expo segment of the event is doing well and we are looking at involving a lot of countries in West and Central Africa in the edition.

This we have kick-started by extending invitation to players in the auto parts business in those countries to visit the fair. We are aiming at using the Nigerian Autoparts markets as the hub of the sector’s business in Africa.”