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Post-COVID-19: ACCI to spur economic activities via Auto Auction

The Abuja Chamber of Commerce and Industry (ACCI) in collaboration with Western Atlantic Corporation say the upcoming first Auto Dealer Auction would benefit Nigerians and stimulate economic activities in the industry.

ACCI Director-General, Victoria Akai, on Friday in Abuja, in a news conference said the auto auction would enhance the liquidity of the dealers through improved sales orchestrated by the auction facility.

The three-day auto auction which will begin at the ACCI Trade Fair Complex in Nov. 11, is aimed at fulfilling ACCI mandate of promoting economic and industrial development.

Akai said the Gallery Mobile Dealer Auction was created to bring succour to Nigerians and to the activities of the auto dealers due to COVID-19 pandemic impact which affected every facet of economy.

She decried the suffering and agonies of the Abuja Motor Dealers whose daily income depended on the patronage of the vehicle buying public.

She noted that when the knockdown was relaxed, most vehicles which were imported were no longer functioning as the batteries had packed up and many auto dealers had to face the problem of replacing the batteries or repair.

“There was a serious cloud of uncertainty even as the opportunity to bring in new supplies of vehicles were totally closed due to the pandemic.

“Some 92 per cent of vehicles you find on the roads within the FCT and indeed Nigeria today are imported foreign used vehicles which can only be purchased from the auto dealers.

“ACCI appreciates the impact of these dealers without whom many will be jumping Abuja taxis and buses since only few can afford the price of brand new vehicles, hence the auto auction,” she said.

She said the auction would provide the platform and enabling environment for Nigerians to acquire vehicles at affordable rates while the dealers’ businesses thrive exponentially.

The D-G added that it would not be a one off opportunity because the dealers were guaranteed continuous support and increase productivity and profitability on a monthly basis.

“The uaction is providing the opportunity for buyers to pick their vehicle of choice, conveniently, every second week of the month, starting from Wednesday to Friday.

“You can imagine more than 500 Dealers within the FCT bringing as much as 2,000 to 3,000 vehicles to a three-day monthly auction, there is no way buyers will not find their vehicle of choice,” she said.

The D-G noted that the auction was earlier scheduled to begin on Oct. 17, 2020 but due logistic issues it was rescheduled to Nov. 11, adding that there would be two auctions, one in November and the second in December.

She further said that an Auto Online Auction, the second stage of its operation would start from January 2021 to provide opportunity for the virtual fair to further simplify businesses.

Akai noted that it would equally create an opportunity for indigenous Vehicle Manufacturers and Assembly Plants to showcase their products to promote locally-made vehicles in Nigeria.

She assured the public of adequate security by the Nigeria Police, the Nigeria Security and Civil Defence Corps, the Federal Road Safety Corps (FRSC), the Nigeria Customs and it’s corporate Security to operate a crime-free facility.

According to her, the programme is packaged to observe all COVID-19 protocols.

Prince Ajibola Adedoyin, National President of the Association of Motor Dealers of Nigeria (AMDON), said the prices of the vehicles would be brought down to minimum level to assist Nigerians in these critical times.

He said the auction would bring connectivity for buyers to meet sellers in the FCT to promote businesses adding that the vehicles for auction were properly checked and intact without any problems.

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