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The Managing Director, BKG Exhibitions Limited, Mr. Ifeanyichukwu Agwu , said his company would continue to host the annual Lagos Motor Show despite the challenges in the sector in particular and the country in general. Agwu, who also doubles as chairman, organising committee, of the annual event, stated this at the opening ceremony of the 15th Lagos Motor Fair which held recently at the Federal Palace Hotel, Victoria Island, Lagos.
The BKG boss, said his company had resolved that “in keeping with our passion, vision and mission for this (automotive) industry, we will always use this event to celebrate the Nigerian and global automotive industry,” adding, “This 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 negative impacts of the Covid-19 pandemic on global economy and other social activities as well as the uncertainties of the National Automotive Industry Development Plan [NAIDP].”
According to Agwu, “The automotive and road transport sectors are very important as they show physically the state of any economy, generate much revenue and create enormous employment. It is the artery of the economy and if it is badly affected, other sectors suffer. Economies that know its worth do not handle issues in the sector with kid gloves. One wonders why the reverse is the case in Nigeria. Even in the Covid-19 induced global economic downturn, modern nations supported the sector and their economies were better for it.”
He maintained that for Nigeria to fast track and effectively drive the quest for the diversification of the Nigerian economy, the government must have as its first and strategic choice, the auto industry.
“This is based on empirical evidences of the potentials of the industry as it continuously plays strategic and catalytic roles in economic development, especially in the areas of employment generation, Gross Domestic Product contribution, Small and Medium Enterprises development, which are key to robust economic development,” Agwu said.
He however lamented that this, indeed, is a seriously challenging time in the automotive industry in Nigeria, saying the it is a season that has thrown up more challenges than ever before.
“A lot of companies have closed shop while a large number are merely existing and direly in need of life supports. This can be confirmed by the number of exhibitors in this edition. Ordinarily, it is the delight and wish of any serious player in the industry to showcase amongst others but here we are witnessing the opposite,” he said.
Maintaining that Nigeria is very important to the global automotive business as virtually all brands in the industry compete to enter and capture the market, the BKG boss implored all the relevant stakeholders to join hands and release the synergy that will see the sector regain the traction it has gained with the introduction of the NAIDP, saying “This will help to fast track the development of the sector.”
He also urged all the stakeholders not to allow the litany of policy somersaults and current economic downturn to squeeze life out of the industry as he maintained that “We cannot afford to always slaughter long term goals at the altar of short term and immediate gain as contained in Section 38 of the Finance Act 2021.“
On the importance of the annual motor show, Agwu said “We all need to utilise a strategic platform as this one to consistently draw the attention of law makers, policy makers and executors to the happenings in the sector through our active participation,” maintaining that “This will ultimately help in pushing the affairs of the sector into the front burner of the nation’s economic discuss to elicit right and best attention.”
He disclosed that “This is why despite the daunting challenges we have been facing in organising this annual event, we resolved not to take the easy way out which is to quit, “ adding, “The emphasis is on keeping the sector alive.”
Agwu also revealed that “in our continuous quest to make the event better, we have resolved effective from this edition to be holding the Lagos Motor Fair indoors,” saying “This is aimed at adding more glamour and aesthetics as well as protect products, exhibitors and visitors from harsh weather conditions. “
He therefore commended all the participants and exhibitors for defying all odds to be at the event, saying “This shows that you are unshakeable, reliable and resilient,” even as he urged them to utilise the event to increase their enviable stake in the largest automotive market in sub-Sahara Africa.
