Kia, BKG worry over Nigeria auto industry challenges, proffer solutions

• Abuja auto show begins Oct 25

Challenges confronting the Nigerian auto industry and the way forward were at the centre of discussion recently when Kia Nigeria team met with BKG Exhibitions Limited management recently ahead of the 2021 Abuja motor show.

BKG is the organiser of the Abuja International Motor and the Lagos Motor Fair & Autoparts Expo Africa.

Vice President of Kia Nigeria, Mr Olu Tikolo, noted that Nigeria had the potential to be the hub of automotive business in sub-Sahara Africa but regretted that it was fast losing this to Ghana.

He however advised that implementing the National Automotive Industry Development Plan as well as backing it with appropriate laws and addressing the forex volatility with vehicle acquisition challenges by Nigerians would go a long way in restoring sanity and fast-tracking the development of the sector.

Marketing Manager, Kia Nigeria, Mr Olawale Jimoh identified policy inconsistency, poor implementation and increasingly dwindling purchasing power of Nigerians as the bane of auto sector development in Nigeria.

He bemoaned the forex volatility, lack of access to affordable auto loan schemes as provided in the county’s auto policy.

These challenges, he noted, had continued to hinder the acquisition of new vehicles in the country.

Managing Director and CEO of the company, Mr Ifeanyichukwu Agwu, said the lack of unity amongst the players had not helped in the tackling myriad challenges confronting the sector.

He said that the outcome of the meetings the stakeholders would be taken to the relevant Federal Government’s ministries, departments and agencies in the industry for necessary actions.

He urged other stakeholders whom he disclosed have been written to by his team to key into it.

This, according to him, will help in seeing to the expected turnaround of the sector.

While thanking the management of Kia Nigeria for granting him and his team audience, Agwu announced the date for the forthcoming 21stn Abuja International Motor Fair.

According to him, the event will take place at the International Conference Annex, Area 10, Garki, Abuja from October 25-30, 2021.

He said publicity activities were ongoing to drive sufficient traffic to the venue of the event.

He further disclosed that responses from expected participants had been quite encouraging – an indication that virtually all the major and even fringe players are going to active participate in this edition.