• Saturday, April 20, 2024
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BusinessDay

Lagos Motorfair, Autoparts Expo eye investment potentials

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BKG Exhibitions Limited, organisers of the forthcoming 8th Lagos Motor Fair is packaged to ensure that both participants and visitors will fully maximise the benefits and potentials that abound in the automotive and road transport sectors.

This is aimed at fast tracking the development of the sectors and ensuring that benefits of such rapid developments are fully tapped and unleashed into the economy.

Ifeanyi Agwu, MD/CEO, BKG Exhibitions Limited and Chairman Organising Committee for the event said that all strategies have been deployed to ensure the fair receives the needed attention from participants, institutional, trade, professional and individual buyers as well as visitors. We have packaged a show that could effectively be used by the participants and visitors to maximise the benefits they drive from the fair.

This edition he said will bring out all the potentials and investment opportunities that abound in the local automobile industry, which we know are very attractive so that the existing and potential stakeholders will utilise the opportunities offered by fair.

This year’s event is laying more emphasis on the Spare Parts sector in as a result of our guided intention to enhance the development of cottage industries in the spare parts sub-sector of the auto sector with the attendant multiplier effects on the economy.

He said that the target is to attract many reputable Original Equipment Manufacturers (OEMs) of Spare Parts from across the globe to participate in this edition as well as in subsequent ones. In conjunction with SENEXPO International Fairs Inc of Turkey, the local organisers have reached out to many of such companies and the response has been tremendous and we are expecting close to 150 of them.

“Our intention in bringing them to Lagos which is the hub of automotive business in West Africa is to enable Nigerians and West African nations engage in auto spare business work out rewarding and lasting business relationships with the main companies in the manufacture of auto spare parts.”

It can be a platform for agencies, distributors, manufacturers’ representatives to boost their businesses and discourage them from going abroad for business deals and most importantly bring these foreign companies into the country. This can result in increased activities in the sector and increased products lines and qualities. It will in the short and long run rub off positively on the sector.

Moreover to fast track the establishment of automobile assembling plants which will lead to having them manufacturing in the country in the long run, we must ensure that there is a lot of small scale companies seriously engaged in the production of different auto parts and accessories, so as to lessen the recourse to importing them from abroad.

This will go a long way in making the cost of production cheaper and thereby making the products more competitive. This cost implication will further ensure that people buy more brand new products than the fairly used which a lot of people often resort to because of the high cost of acquiring brand new automobiles.

He assured visitors that Federal Palace Hotel, venue of this year’s exhibition is the place to be to access the major automobiles, spare parts, accessories, lubricants, financials under one roof as reputable manufacturers, dealers and companies in these areas are participating in the fair in their large numbers.

Visitors will have opportunity of getting best deals at special rates which they cannot get elsewhere. Special discounts, packages and gifts have been lined up for them by the participating companies. The fair will start from May 10 and end May 16, 2013.