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Nigeria controls auto part business in W’Africa, says BKG at Lagos Auto Fair

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Nigeria controls auto part business in W’Africa, says BKG at Lagos Auto Fair

 

As the ongoing Lagos Motor Fair bubbles, Managing Director of BKG Exhibition Limited, Mr Ifeanyi Agwu, says Nigerians are in firm control of automobile spare parts business in West Africa.

He spoke on Wednesday at a four-day Lagos Motor Fair holding in Victoria Island, where Nigeria-based and foreign automakers, motorcycle and component manufacturers from Asian countries, among others, are displaying their products.

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.

Agwu also spoke on the compressed natural gas-powered automobiles being propagated by the Federal Government. According to him, the 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.

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Toyota Nigeria hosts Toyota Motor Show in Lagos this week

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Toyota Nigeria hosts Toyota Motor Show in Lagos this week

Toyota (Nigeria) Limited (TNL) will this week treat its customers and fans to a special Toyota Motor Show in Lagos.
The three-day event holding from Thursday, June 27 to Saturday, June 29, 2024 at The Podium in Lekki, will provide an enabling environment for customers and prospects to interact closely with their vehicles and get more informed about the company’s after-sale services/products vis body and paints and allied products, vehicle service and spare parts.
The Motor Show, the company said, would feature test drive of different models, free vehicle diagnostics, as well as a full complement of after-sales services on the ground for customers to take advantage of.
Senior management staff of TNL will also be on the ground to meet with customers and prospective customers.
The event scheduled to hold from 10 am to 7pm daily, according to TNL, will “provide an enabling environment for our customers to touch and feel our array of wonders on wheels.
“We want our customers to take advantage of the topnotch services we offer, such as improving the interior of your vehicle and the body to look good as new.
“Body and paint products and spare parts will also be on sale. Special service package opportunity is part of the deal.”
The company advised motorists to visit the Toyota Motor Show and take advantage of the huge discounts on vehicle purchase and servicing of their vehicles, which would be applied immediately or locked in to be redeemed later.
Some of the Toyota models being distributed by Toyota (Nigeria) Limited and would also be on display at the Show are Belta, Starlet, Rumion, Corolla, Camry, Corolla Cross, Hiace bus, Hiace Ambulance, Coaster, Hilux ( Prerunner), Hilux with canopy, other Hilux options, Prado TX and LC 300 VX Turbo
Toyota Nigeria’s facilities and dealership network are spread across Nigeria, manned by a well-trained workforce to deliver top-notch service to customers across Nigeria.

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R.T. Briscoe begins conversion of vehicles to run on CNG/LPG 

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R.T. Briscoe begins conversion of vehicles to run on CNG/LPG 

R.T. Briscoe Plc has commenced conversion of petrol and diesel vehicles to run on Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG).

Group Managing Director of the company, Mr Seyi Onajide, disclosed this during an interactive session with journalists in Lagos.

He also unveiled a number projects embarked upon by the company including securing the approval of the Securities and Exchange Commission (SEC) to raise N10 billion through a savings and investments scheme.

Onajide said the automotive division of the conglomerate decided to set up a CNG/LPG conversion facility in line with the Federal Government’s CNG initiative (Pi-CNG).

“We started the conversion of petrol or diesel engine cars into CNG and LPG without government funding and we believe it is the future of automobile industry. We have successfully done that on some pick-up vehicles,” he said.

The R.T. Briscoe CEO said the company had submitted a proposal to the Presidential CNG committee.

“They invited us to participate in the CNG initiative. We believe that the average vehicle owner in Nigeria and even commuters can benefit from this initiative because it has a lot of benefits. It will save costs for the motoring public,” he said.

Onajide said the CNG conversion kits being used are manufactured in Europe with one of the best global rating standards .

He added that the automotive division of the R.T. Briscoe has well-trained technical and professional team that could handle the installation.

Even as he noted that the future looked promising, he observed the initiative could be impeded by the non-availability of CNG and LPG refilling stations and expressed support for a hybrid model.

He said, R.T. Briscoe had approached some corporate institutions that are fleet owners that have justifiable reasons to build gas-refilled plants on their premises.

According to him, until gas-refilling stations are readily available, CNG would be limited to big organisations that could house and store gas.

The highpoint of the event was the inspection with a test drive of the finished vehicles converted to run on CNG.

RT Briscoe Plc is engaged in the sales and servicing of Toyota vehicles, technical services, material handling and property development and management.

The Presidential CNG Initiative (Pi-CNG) is a component of the palliative intervention of the President Bola Ahmed Tinubu administration directed at providing succour to the masses occasioned by the hardships of the fuel subsidy removal policy of the Federal Government.

With a projected $2.5 billion investment by 2027, the Presidential CNG Initiative plans to drive Nigeria towards a sustainable and prosperous future, where every citizen has the opportunity to thrive.

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Customs CG for auto industry summit, stakeholders express support 

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Customs CG for auto industry summit, stakeholders express support 

Major stakeholders in the automotive sector have expressed support for the maiden edition of the Nigeria Auto Industry Summit (NAISU) scheduled to hold at Radisson Lagos, GRA Ikeja, on June 27, 2024.

The Comptroller-General of the Nigeria Customs Service, Mr. Adewale Adeniyi, and officials from the Nigeria Ports Authority (NPA) are expected to speak on myriad challenges facing auto importers and how to boost the confidence of stakeholders in the clearing process.

The event is being organised by the Nigeria Auto Journalists Association (NAJA) in partnership with the National Automotive Design and Development Council (NADDC).

A statement by the organisers said the event had received major boost from Weststar Associates Limited, the authorized distributor of Mercedes-Benz in the country; and Carloha Nigeria, the exclusive distributor of Chery in the country.

Other leading stakeholders that have keyed into the event with full commitment are Toyota Nigeria Limited (TNL), Lanre Shittu Motors, Globe Motors and CFAO Nigeria, while others are expected to join the efforts to move the industry forward any time from now.

The Comptroller-General of the Nigeria Customs & Excise (NCE) , Mr. Adewale Adeniyi and officials from the Nigeria Ports Authority (NPA) are expected to address the myriad of challenges facing auto importers at the summit in order to boost the confidence of stakeholders in the clearing process.

Envisioned as an annual flagship event of the country’s automotive industry to rally all stakeholders together in addressing the challenges facing them, the auto industry summit will recommend practical solutions to the government through a communiqué at the end of the event in order to fully explore the great potential in the automotive sector for national development .

Expected to be declared open by the Minister of Industries, Trade and investment, Dr. Doris Uzoka-Anite, the summit, which has as theme, ‘Reviving Nigeria’s Economy through the Automotive Sector’, will have the NADDC Director General, Mr. Joseph Osannipin, as the chief host.

The NADDC boss is expected to be supported at the summit by members of the Nigeria Association of Automotive Manufacturers (NAMA) as well as leading stakeholders across Nigeria.

Commenting on the importance of the summit for the development of the country’s automotive sector, Chairman, organizing committee of NAISU, Femi Owoeye, said, “Initiating this summit is vital, especially at this moment in history when Nigeria is struggling to map its way out of the prevailing global economic despair.

“Being one of the drivers of the global economy, the automobile industry, if given the necessary impetus in Nigeria, is capable of transforming the country to an automotive manufacturing hub in Africa.

“To this end, Nigeria Auto Industry Summit shall annually produce significant information compost that would help the government to make it happen. That is why the maiden event is themed: Reviving Nigeria’s Economy through the Automotive Sector.”

On his part, Chairman of NAJA, Mike Ochonma, said, “Significantly, the summit shall bridge the information and communication gap between the nation’s auto industry stakeholders and relevant government agencies.

“Moreover, annually, the summit shall give a single and united voice for the auto industry leaders to set developmental agenda aimed at kick-starting and driving relevant government policies towards a sustainable development of the automotive industry in Nigeria and ultimately position the country as a frontline beneficiary of the African Free Trade Agreement Area.”

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