Lagos Motor Fair, Autoparts Expo to begin March 17, targeting Investment, Industry Growth

The 20th edition of the Lagos International Motor Fair and the 13th Africa Autoparts Expo is set to spotlight investment, technology transfer and industry collaboration as organisers intensify efforts to position Nigeria as a major automotive hub in West Africa.

The three-day event, which will also incorporate the Africa Motorcycle and Tricycle Expo, is scheduled to hold from March 17 to 19, 2026, at the Federal Palace Hotel in Lagos.

Organisers said the upcoming edition would focus strongly on accelerating the development of the country’s automotive sector by creating platforms that connect global manufacturers with local industry players.

“Nigeria has all it takes to become a global automotive industry giant,” the organisers stated, noting that the fair remains a strategic contribution toward driving growth despite prevailing industry challenges.

Chairman of the Organising Committee, Ifeanyichukwu Agwu, said the exhibitions had over the years evolved into a key platform for attracting investment into automobile spare parts and accessories manufacturing while strengthening aftermarket activities across the region.

“We have consistently used these events to attract investment into auto components manufacturing and to showcase the enormous capacity and potential of this critical sector of the economy,” he said.

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Agwu, who also serves as Managing Director of BKG Exhibitions Limited, disclosed that the 2026 edition would place emphasis on business-to-business engagement between original equipment manufacturers (OEMs) and auto parts dealers from Nigeria and neighbouring countries.

According to him, the goal is to foster partnerships capable of leading to the establishment of component manufacturing plants locally.

He added that the exhibition is expected to support government policies aimed at building a sustainable automotive industry by stimulating the emergence of companies involved in component production.

Calling for policy adjustments, Agwu urged the Federal Government to prioritise spare parts and components manufacturing over vehicle assembly, arguing that deeper technology transfer and innovation occur within the components segment.

“Spare parts manufacturing is where real technology transfer occurs. It involves precision engineering, planning and innovation—far beyond the coupling processes involved in assembly,” he said, while also advocating a review of the existing automotive policy to better support local production.

Despite the challenges associated with hosting large-scale industry events, Agwu reaffirmed the organisers’ commitment to sustaining the platform, warning that neglecting the automotive sector could have far-reaching consequences for the economy and employment.

The organisers said more than 100 original components manufacturers from countries including China, India, South Korea, South Africa, Singapore and Turkey, alongside major automobile distribution and manufacturing companies operating in Nigeria, are expected to participate.

In addition to product exhibitions, the event will feature seminars and technical workshops focusing on policy, investment opportunities, technology transfer and industry best practices, with each day structured to deliver value to exhibitors, investors, policymakers and other stakeholders.

Lagos Motor Fair, Autoparts Expo to begin March 17, targeting Investment, Industry Growth

Naira Could Trade Below ₦1,000/$ With Dangote Refinery at Full Capacity — Otedola

Billionaire businessman Femi Otedola has projected that the naira could strengthen to trade below ₦1,000 per US dollar as the Dangote Petroleum Refinery achieves full operational capacity. The prediction comes as Nigeria anticipates a major boost in domestic fuel production, potentially reducing import dependence and easing pressure on the foreign exchange market.

Otedola made the projection in a post on X, congratulating Aliko Dangote on the refinery reaching its designed processing capacity of 650,000 barrels per day (bpd). He described the milestone as a historic moment for Nigeria’s energy sector, saying it could positively impact the naira exchange rate, foreign reserves, and overall economic stability.

According to Otedola, the refinery’s capacity to produce up to 75 million litres of Premium Motor Spirit (PMS) daily positions Nigeria to meet domestic fuel demand and even generate surplus for export. He highlighted that this would reduce the country’s reliance on imported petroleum products, which historically exerted heavy pressure on the naira and foreign exchange resources.

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“With domestic refining now firmly underway after decades of reliance on imports, pressure on the foreign exchange market should ease significantly, potentially pushing the naira below ₦1,000/$ before year-end,” Otedola said. He also noted that the EFCC and monetary authorities’ support in maintaining a conducive economic environment would complement these gains.

The Dangote Refinery, located in the Lekki Free Zone, Lagos, is Africa’s largest single-train refinery. Experts say that reaching full production will conserve billions of dollars previously spent on importing refined petroleum products and strengthen Nigeria’s foreign exchange reserves. Plans are also underway to expand refining capacity to 1.4 million bpd, with increased production of petrochemicals like polypropylene and linear alkyl benzene, further reducing industrial import dependence.

Economic analysts have welcomed the refinery’s milestone but caution that naira stability will still depend on broader macroeconomic reforms, oil prices, foreign capital inflows, and Central Bank of Nigeria (CBN) policies. Nevertheless, Otedola’s projection reflects renewed optimism that domestic refining capacity could be a turning point for the Nigerian economy, energy security, and the foreign exchange market.

Naira Could Trade Below ₦1,000/$ With Dangote Refinery at Full Capacity — Otedola

Dangote Refinery Slashes Petrol Price to ₦774, Ends PMS Bonus Window

Dangote Petroleum Refinery and Petrochemicals FZE has announced a reduction in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, by ₦25 per litre, lowering the ex-depot rate from ₦799 to ₦774 per litre. The new pricing took immediate effect on Tuesday, 10 February 2026.

The refinery notified petroleum marketers through its Group Commercial Operations Department, stating:
“This is to notify you of a change in our PMS gantry price from ₦799 per litre to ₦774 per litre.”

Industry checks on platforms like petroleumprice.ng confirmed that the revised price has already been updated across petroleum pricing systems, ensuring transparency for downstream operators and consumers.

In the same notice, Dangote Refinery announced the end of its PMS lifting incentive programme, which had offered marketers bonuses for purchasing within specific volume thresholds. The refinery stated that credits for volumes loaded from 2 to 10 February 2026 would be posted to marketers’ accounts.

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Analysts say the simultaneous price cut and closure of the bonus window signals a shift from volume-driven incentives to a more stable and predictable pricing framework, as the refinery consolidates its domestic market share.

The move comes amid continued volatility in PMS prices following the full deregulation of Nigeria’s downstream petroleum sector and the removal of fuel subsidies. In 2025, ex-depot prices fluctuated between ₦700 and over ₦800 per litre, driven by exchange rate pressures, global crude oil prices, and reliance on imported fuel, which in turn pushed pump prices higher nationwide.

With a production capacity of 650,000 barrels per day, Dangote Refinery — Africa’s largest single-train refinery — has become a key reference point for domestic fuel pricing. Its operations have helped moderate petrol prices, especially in southern and coastal distribution corridors, and reduce Nigeria’s dependence on imported fuel.

Industry observers note that the latest price reduction reflects easing production costs, improved operational efficiency, and increased competition from imported cargoes and modular refineries. As the refinery continues to expand, its pricing decisions are expected to influence national petrol rates, transportation costs, and inflationary pressures.

Dangote Refinery Slashes Petrol Price to ₦774, Ends PMS Bonus Window