The Chairman, Organizing Committee/Managing Director, BKG Exhibitions Limited Mr. Ifeanyichukwu Agwu has called on the federal government to rejig the auto policy and place more attention to the manufacturing of auto spare parts rather than the complete automobile.
He made this remark at the opening ceremony of the 13th Lagos Motor & 7th Autoparts Expo Africa held at the Federal Palace Hotel, Ahmadu Bello Way, Victoria Island-Lagos, on May 9, 2018.
According to him, it will help the Nigerian economy and the revive the moribund auto industry if government restarts the implementation of the auto policy by concentrating on parts before talking of building vehicles.
He said that “the central theme of this edition is: New products; best solutions; more options,” this is informed by the fact that the enormous challenges facing the sector in recent times notwithstanding, we must produce, market and promote our (new) products which are the best solutions to the logistics needs of the people and government and are also the best to fast-tracking economic diversification and development in Nigeria.
“The various brand new products/services on display in this unique event as well as in the entire section are multiple options to satisfying our individual, corporate and even public automotive needs”.
Agwu called on government “to urgently address the myriads of challenges confronting the industry as doing so is the lasting secret to the nation coming out of the vicious cycle economic underdevelopment. This is based on empirical evidences of the potentials of the industry as it continuously plays strategic and catalytic roles in economic development; especially in the areas of employment generation, increasing Gross Domestic Product, Small and Medium Enterprises development; which are key to robust economic development.
“Nigeria is very important to the global automotive business as virtually all brands in the industry compete to enter and capture the market. The nation obviously need to have internationally recognized auto shows to help in showcasing and opening this important market and its potentials to attract the much desired investments to develop the sector”.