Nigeria is losing a lot of lives and substantial amount of money to
the influx of fake automobile spare parts, experts have said.
The experts, who spoke in Lagos at the launch of an online platform for
auto parts’ sourcing, Izzy Parts, estimated the loss to N2bn annually.
The Head of Media & Communications of Izzy Parts, Mr. Collins Udeme, said there was a heavy presence of substandard auto parts in the market.
He said more people were being recruited into the illegal business because of the patronage from unsuspecting Nigerians.
He attributed this to ignorance and poverty, among other factors.
“We have done our research and come to the conclusion that, ubiquity, affordability and a lack of alternatives are what create a market for substandard spare parts. We therefore aim to fill this void as a way of discouraging the menace of fake spare parts in the country,” Udeme said.
He urged the authority to urgently address the situation.
Also speaking at the forum, the Chairman of GMC Nigeria, Mr. Frank Kintum, said the country’s quest to attain a regional hub in auto business had been adversely affected by the booming fake auto spare parts’ market.
He said about N2bn was being lost yearly to the menace and called for a concerted effort by all stakeholders to address the problem.
A statement by Izzy Parts said the firm with its head office in the United States, would allow African consumers to access high quality products from several original parts manufacturers around the world.
According to the firm, with the launch of the online platform, it is expected that the challenges previously faced by vehicle owners in procuring genuine auto spare parts in the country will be eliminated completely.
The Head of Media & Communications of Izzy Parts, Mr. Collins Udeme, said there was a heavy presence of substandard auto parts in the market.
He said more people were being recruited into the illegal business because of the patronage from unsuspecting Nigerians.
He attributed this to ignorance and poverty, among other factors.
“We have done our research and come to the conclusion that, ubiquity, affordability and a lack of alternatives are what create a market for substandard spare parts. We therefore aim to fill this void as a way of discouraging the menace of fake spare parts in the country,” Udeme said.
He urged the authority to urgently address the situation.
Also speaking at the forum, the Chairman of GMC Nigeria, Mr. Frank Kintum, said the country’s quest to attain a regional hub in auto business had been adversely affected by the booming fake auto spare parts’ market.
He said about N2bn was being lost yearly to the menace and called for a concerted effort by all stakeholders to address the problem.
A statement by Izzy Parts said the firm with its head office in the United States, would allow African consumers to access high quality products from several original parts manufacturers around the world.
According to the firm, with the launch of the online platform, it is expected that the challenges previously faced by vehicle owners in procuring genuine auto spare parts in the country will be eliminated completely.
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