The Managing Director of BKG Exhibition Limited, organiser of the Lagos Motor Fair, Mr Ifeanyi Agwu,
has commended the Federal government for its auto gas Initiative.
The fair which runs from June 4-7, 2024, is hosting Nigeria-based and foreign automakers, motorcycle and component manufacturers from Asian countries, among others.
According to the MD, the gas initiative is cost-effective and friendly to the environment.
“The CNG initiative is one of the best policies by this government. But government alone cannot promote it. It’s private sector events like this (auto fair) that can help.
“The CNG makes the engine run well.People are losing so much by not embracing the CNG yet,” he said.
Speaking on other issues, the MD says Nigerians are in firm control of automobile spare parts business in West Africa and a few other countries outside the region.
Agwu said, “Nigerians are controlling auto part business in West Africa. It’s Nigerians you will see mostly engaged in the auto spare part business in countries in this region.
“That is why you see makers of auto components from Asian countries including China flooding the Lagos Motor Fair. They see a big market here.”
The BKG boss said the auto fair had brought big business for Lagos and Nigeria.
He said, “Foreign exhibitors have taken over most of the hotels on the Lagos Island where the Lagos Motor Fair is taking place.
“This is just one of the business activities the fair is offering Nigerians outside the auto industry.
“You can partner with them to produce auto parts here; you can also be their agents in specific components in Nigeria.”
He also spoke on the importance of auto sector towards the development of the economy.
“Business is generally slow in Nigeria but people have not abandoned their cars. What is sustaining the industry is after-sale support through quality spare parts.”
He described Nigeria as important country in Africa to foreign investors especially the auto industry.
“Our target is to have major visitors across the globe coming to Nigeria for the auto show,” he stated.
