17th Lagos Motor Fair, 10th Autoparts Africa Expo to Drive More Investments

May 24, 2023

Bennett Oghifo

The organisers of the annual Lagos International Motor Fair & Autoparts Expo Nigeria has disclosed that the forthcoming edition of the all-inclusive event is aimed at driving 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. According to the Managing Director BKG Exhibitions Limited, Mr. Ifeanyichukwu Agwu, who is also the Chairman of the Organizing Committee for the event, Nigeria has all it takes to be and remain the major hub of auto spare parts manufacture in particular and the entire automotive sector business in general in not only the West African region but also in other parts of Africa. It boasts of a huge domestic market and has a large population.

The Chairman of the Organizing Committee further revealed that to achieve this, this edition of the event will focus on Business-To-Business interface between the exhibiting Original Equipment Manufacturers (OEMs) and dealers in auto parts from major auto parts across Nigeria and some neighbouring countries, which he said have been reached out to for 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 is aiming at spurring the rapid springing up of companies that manufacture these components parts 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 ends.

The automotive sector is vital 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. It is a sector that drives the economy; if it is badly affected, other sectors suffer. It is the artery 0f the economy. Government should parley seriously with the sector stakeholders to see how it could be made better.

"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.

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 from June 6-9, 2023; 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. "Without re-fleeting, accident rates will increase astronomically; calling on the government to really think deeply about developing this sector. In unison, the stakeholders can put the issues of the sector on the front burners of economic discussion and policy in the country.

Some of the confirmed exhibitors are: Coscharis Motors, 11Plc., [formerly Mobil]-Gold Participant, Michelin Nigeria, WestStar & Associate, 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

"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. We have kick-started by extending invites 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. The intention is to make them (players from 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 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.

There will be seminars/Workshops going on simultaneously with the exhibition. From June 6-9, 2023 at the Federal Palace Hotel, Victoria Island, Lagos, the venue of the event; each of those days that the fair will l