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Auto sector key to nation’s economic development — BKG boss

THE Chairman,Organising Committee, Lagos Motor Fair and Managing Director BKG Exhibitions Ltd, Mr. Ifeanyi Agwu, has called on the Federal Government to urgently address the many challenges facing the nation’s automotive industry as a means of solving the nation’s economic problems.Agwu who spoke at the opening of the 13th Lagos Motor Fair and seventh Auto Parts Expo Africa at the Federal Palace Hotel, Lagos, lately said  the nation’s automotive sector holds the key to unlocking the nation’s economic development.“Ï call on the government to urgently address the myraids of challenges confronting the auto industry as doing so is the lasting secret to the nation coming out of the vicious cycle of economic underdevelopment” he said. According to him, his suggestion is based on empirical evidence of potentials of the industry as it continuously plays strategic and catalystic roles in economic development, especially in the areas of employment generation, increasing Gross Domestic Product and  small and medium enterprises development which are key to robust economic development.The BKG  boss also supported his call with the importance of Nigeria in the sub-Sahara Africa market, given its huge population and abundance of natural resources. “Nigeria is very important to the global automative business as virtually all brands in the industry compete to enter and capture the market,”  he said.

To this end, he noted that the nation obviously needed to have internationally recognised auto shows to help in  showcasing and opening of this important market and potentially make it to attract the much desired investments to develop the sector. 

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