Governor Babatunde Raji Fashola, SAN, of Lagos State is expected to lead other dignitaries from the public and private sectors to declare open the 10th  edition of the Lagos Motor Fair & 4th  Autoparts Expo Nigeria. The Fair which kicks off on Thursday, at the Federal Palace Hotel, Ahmadu Bello Way, Victoria Island, Lagos, will parade over 100 companies from Nigeria and abroad.

Disclosing this during a media briefing, Mr. Ifeanyichukwu Agwu-Chairman of the Organising Committee of the Fair said that the event, which is organized by BKG Exhibitions Limited and SENEXPO International Fairs Inc of Istanbul, Turkey underscores the seriousness of the Lagos State Government in encouraging and supporting all good efforts geared towards developing the automotive industry in Nigeria.

Mr. Agwu, who is also the Managing Director of BKG Exhibitions Limited, noted that the presence of the State government will go a long way in reinforcing the aims and objectives of the show which is fast tracking the development of the automotive sector of in Nigeria. His presence according to the Managing Director would give the needed encouragement and boost to existing and potential investors in the industry.

According to the head of the organizing committee, the Lagos Motor Fair remains the unparalleled gathering of established auto brands as well as new entrants, ranging from passenger, cars, trucks, buses, spare parts, accessories, lubricants, to financials. He added that the importance of continuously staging the show cannot be over-emphasized as all hands must be on deck to promote and support investments in the sector, as it occupies a strategic position in enhancing the economic development of Nigeria”

Mr. Agwu revealed, “As part of our efforts in promoting investment into the automotive sector, all strategies have been deployed to ensure that the fair, more than ever before, receives the needed attention from participants, institutional, trade, professional and individual buyers as well as visitors. Continuing, he said, we have packaged a show that could effectively be used by the participants and visitors to maximize the benefits derivable from the fair. This edition will bring out all the potentials and investment opportunities that abound in the Nigerian automobile industry, which we know are very attractive so that the existing and potential stakeholders will utilise the opportunities offered by Lagos Motor Fair to get the best”.

Strategically, just like in the past three editions, we are laying emphasis on the Spare Parts sector in this edition. This is as a result of our guided intention to enhance the development of cottage industries in the spare parts sub-sector of the automotive business sector of the economy with the attendant multiplier effects on the economy of the nation. Our target is to attract many reputable Original Equipment Manufacturers of Spare Parts from across the globe to participate in this edition as well as in subsequent ones.

“In conjunction with our foreign partners: SENEXPO International Fairs Inc of Turkey, we have reached out to many of such companies and happily the response has been tremendous and we are expecting over 60 of them. Our intention in bringing them to Lagos which is the hub of automotive business in West Africa 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,”he said.

These relationships which can come in the form of sole agencies, distributorship, manufacturers’ representatives amongst others will ultimately boost their businesses. It would save them the troubles of going abroad to seal such business deals and most importantly it will bring these foreign companies into the country, resulting in increased activities in the sector, more productions and increased products lines and qualities; which will in both the short and long runs rub off positively on the sector.

Virtually all the major brands of automobiles, spare parts, accessories, lubricants, banking, insurance, regulatory and policy making agencies and bodies are taking part. Feelers from most of the participating firms indicate that visitors to the various stands will enjoy lots of goodies. Some have packaged gift items, lucky dips and many other forms of entertainments which according to sources will last all through the fair.