About 100 automotive firms mainly, Original Equipment Manufacturers (OEMs), are set to meet with some of the surviving (if any) local auto parts at this year’s edition of Lagos International Motor Fair and Autoparts Africa Expo which begins tomorrow till the weekend.
Managing director of the BKG Exhibition, who doubles as chairman of the organising committee, Ifeanyi Agwu, stated this in Lagos recently said that, the event holding from June 6-9, 2023 at the Federal Palace Hotel, Victoria Island Lagos, is aimed at driving more investment into automobile spare parts and accessories manufacturing in Nigeria.
He said apart from showcasing the best of products in the industry, auto part makers from China, Europe and other foreign countries would be looking forward to meeting genuine local investors with a view to setting up manufacturing firms in Nigeria.
Over 100 Original Components Manufacturers from China, India, South Korea, South Africa, Singapore, Turkey, Nigeria including major automobile distributing/manufacturing companies in Nigeria are showcasing at the event.
Nigeria he said, has all it takes to be a thriving hub of auto spare parts manufacturing not only for the West African region, but also in Southern Africa based on Nigeria’s huge market and large population.
To achieve this, this year’s edition of the event would focus on Business-to-Business (BtoB) interface between the exhibiting OEMs and dealers in auto parts from major auto markets across Nigeria and some neighbouring countries.
According to him, “We are aiming at using such platform to see to working business partnerships between them and the OEMs that will lead to setting up plants in Nigeria to manufacture parts and accessories,” he stated.
Agwu therefore advised the Federal Government to focus more on spare parts manufacturing rather than vehicle assembling.
The BKG boss maintained that 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 listed some of the confirmed exhibitors as Coscharis Motors, 11 Plc., (formerly Mobil) -Gold Participant, Michelin Nigeria, WestStar & Associate, Hubei Shuangju Industry &Trade Company Limited, and XGM Corporation Limited. Others are Quanzhou Mingyang Automobile Parts Co., Ltd.; Xingtai Changshuo Mechanical Parts Co., Ltd.; Tantivy Automotive Co., Ltd.; and Shijiazhuang City Kabang Valve Manufacturing Co., Ltd
Agwu further explained that, the Autoparts Expo segment of the event is doing well, “We are looking at involving a lot of countries in West and Central Africa in the edition. This we have kick-started by extending invitation to players in the auto parts business in those countries to visit the fair’’.
Nigerian autoparts markets is targeted to be used as the hub of the sector’s business in Africa, while the intention is to enourage players from other countries to buy from the Nigerian markets so that in no distant future, it will become a big event spreading to other countries in the continent.
The country has the resources and capacity to play such a role and it will be a very big disservice to nation and its people if another African country does this ahead of the country.
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 close a lot of them’’.
The intention in bringing them is to enable local dealers in the country and other neighbouring West Africans engaged in automotive, 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.
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