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Expert task FG on spare parts investment to boost auto policy

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For Nigeria achieve the desired goal of her automotive policy, there is urgent need for Federal Government to invest in manufacturing of the auto spare parts sub sector to drive the policy.

This will give rise to establishing more Original Equipment Manufacturers and increase employment.

These were the assertions of Managing Director BKG Exhibitions Limited, Ifeanyichukwu Agwu, at a press briefing to announce the kickoff of arrangements for the 14th edition of its motor fair and the eighth edition of the auto parts expo in Lagos.

Agwu, who is also the Chairman of the Organizing Committee for the event, said the edition is holding despite all odds to ensure that the automotive sector of the Nigerian economy remains in the front burner of economic discuss in Nigeria having in mind the developments in the political arena.

He stressed that the exhibition is poised to champion the development of auto parts sub-sector as leeway to fast-tracking the development of Nigeria’s automotive industry.

“In this edition as we have been doing for sometimes now we will champion the need to institute and drive a well thought out policy and programme to re-jig the sector to seeing to making Nigeria the hub of automotive business in West Africa in particular and the entire continent in general.”

Agwu called on Federal Government to focus on how to see that auto spare parts manufacture in Nigeria is used to drive the policy of automobile manufacturing in Nigeria.

“Spare parts are 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 establishing 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.

According to him the sector is very important 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 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 suffers. It is the artery 0f the economy. Government should parley seriously with the sector stakeholders to seeing how it could be made better”, he said.

While urging all stakeholder to show up at the event billed to take place at the Federal Palace Hotel, Ahmadu Bello Way, Victoria Island, Lagos from May 6-11, 2019; Agwu added that doing so will be an opportunity for all to show the strength and ruggedness of the players in the sector.

“Without re-fleeting, accidents rates will increase astronomically; calling on government to really think deep about developing this sector. In unison the stakeholders can put the issues of the sector in the front burners of economic discuss and policy in the country.

“In no distant future the event 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,” he added.


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