Ifeanyichukwu Agwu, managing director BKG Exhibitions Limited, has called on Nigeria’s government to focus more on spare parts manufacturing in place of assembling, stating that manufacturing of spare parts in the country offer opportunity for real technology transfer.
Agwu said spare parts manufacturing involves precision and proper planning as compared to the coupling that takes place in assembling, adding that this will give rise to establishing of more Original Equipment Manufacturers and increase employment within the country.
He also called for a swift review of the ongoing auto policy to make it achieve the desired ends.
Agwu made these assertions on the sidelines of its forthcoming yearly Lagos International Motor Fair and Auto parts Expo in Nigeria.
He said the forthcoming edition of its fair is aimed at reviving activities in the sector with the objective of showcasing capacities and potentials yet to be tapped.
Agwu, who is also the chairman of the organising committee for the event, said the seemingly intractable lull
in the sector is taking a lot of shine o the industry making it di cult for stakeholders to showcase the abundant opportunities in the sector.
He said it is no longer news that the automotive sector in Nigeria is passing through rough and tough times, but what should be on every stakeholders’ mind is how do we unite to combat the challenges, one of which is using the platform of the event to bring the sector into the front burner of economic discourse in the country.
He emphasised the importance of the sector as it shows physically the state of the economy and it generates much revenue and creates enormous employment.
In his words: “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 is a sector that drives the economy; if it is badly affected, other sectors suffer. It is the artery 0f the economy. The government should parley seriously with the sector stakeholders to see how it could be made better.”
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 organizers to champion the development and thriving of auto parts sub-sector as leeway to fast-tracking the development of Nigeria’s automotive industry”, he added.
With the exhibition slated for May 7 to 12 in Lagos, Agwu said it will be an opportunity
to show the strength and ruggedness of players in the sector.
“In this edition, as we have been doing for sometimes now, we will champion the auto-parts section to make Nigeria become the hub of the business in Africa. We want to make it a strong point of really taking off of a realizable auto policy.
“Organizing the event has been very challenging, we are only trying to nd a way to push it as a key event for the sector and we cannot but use the event to draw the necessary attention on the sector. The government should bail the automobile companies operating in the country. It is a sector that affects virtually everything. It occupies the s 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 economy,” he asserted.