Expert urges FG to focus on spare parts manufacturing, auto policy review

Managing Director BKG Exhibitions Limited, Ifeanyichukwu Agwu, has called on federal government to focus more on spare parts manufacturing in place of assembling, stating that spare parts 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 it will give rise to establishing of more Original Equipment Manufacturers and increase employment within the country.

He also called a swift review of the ongoing auto policy to make it achieve the desired ends.

Agwu gave these assertions on the sidelines of its forthcoming yearly Lagos International Motor Fair and Autoparts Expo in Nigeria.

He disclosed that 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 out of the industry making it difficult for stakeholders to showcase the abundant opportunities and offers in the sector.

He said it is no longer news that the automotive sector in Nigeria is passing through rough and tough times what should be on every stakeholders’ mind is how do we unite to combat the killing challenges one of which is using the platform of this key event to bring the sector into the front burner of economic discuss 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. 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.”

Re-emphasizing the importance of the event, 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.

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 seeing to making Nigeria become the hub of the business in Africa. We want to make it a strong point of real taking off of a realizable auto policy”.  
“Organizing the event has been very challenging we are only trying to find a way to push it as a key event the sector we cannot but use the event to draw the necessary attention on the sector . Government should bail the automobile companies operating in the country. It is a sector that affects virtually everything. It occupies 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 said.