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By Bolaji Okunola
Chairman, 2023 West Africa Automotive Show (WAAS), Luqman Mamudu has urged incoming government to develop interest in the growth of Nigeria automotive industry.
Mamudu stated this ahead the forthcoming (WAAS) conference billed to hold 16th -18th of May at Landmark Centre, Victoria Island, Lagos.
Gathering momentum towards chairing the annual event, Mamudu a former Director of Planning and Strategy at the National Automotive Design and Development Council (NADDC), says the conference will raise awareness of bothering issues and come up with proposals that will help inform incoming government ways to invigorate Nigeria’s automotive sector.
He however aim to highlight the need for safety and quality in automotive products.
“I expect that the inaugural conference of WAAS and the show itself will deepen demand for new parts in Nigeria. The dominance of used parts potentially undermines any attempt at local manufacturing as they are far cheaper than the original new ones and are perceived as OEM [original equipment manufacturer] standard.”
“The incoming government should realize this constitutes a strain on the balance of payment position and missed opportunities to create employment. “This has the potential to undermine the economy. It is particularly worrying to me because 70% of this is accounted for by pre-owned vehicles and used parts obtained from salvage vehicles.”
Stressing further, Mamodu hinted the conference aims to highlight the need for safety and quality in automotive products.
“Used parts imports account for nearly 90% of aftermarket share. The reasons observed are varied but the preference for used components may be due to eroded confidence for new parts,” he suggests.
“Substandard new components and parts are common in the market, so people are suspicious. To build confidence, suppliers must deploy product quality standards tracking systems. Global brands must also expand their network of service and parts as outlets for genuine parts. If we in the industry are ready to step up then it won’t be difficult seeing the incoming government showing interest in the sector and with time, I see the country getting to where it should be in coming years”.
