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How e-auction can boost economy


Lagos Commissioner for Commerce, Chief Mrs Lola Akande, has said that contracting independent e-auctioneers to carry out asset disposal for corporate businesses and government agencies in Nigeria will boost Nigeria’s economy while curtailing institutionalised fleecing of assets set aside for disposal through auction.

Akande spoke at a Certified Institute of Auctioneers, Nigeria, CIAN, conference held in Lagos recently while speaking on the topic, “Planning and Marketing e-Auction Sales.

In his remarks, the Chairman of CIAN Lagos chapter, Mr Ade Onanuga, noted that the Certified Institute of Auctioneers, is strategically positioned to support both the private sector and the public sector entrench transparency in auction processes to nib the concerns of the stakeholders regarding collusion, integrity and accountability.


The CEO of an online auctioning platform,, Hillary Nwaukor charged every auction practitioner to learn how to use technology to communicate what they are selling to their target audience appropriately.

Nwaukor said: “Simple application of AIDA – to grab Attention to generate Interest, then Desire to motivate your audience to take Action can help auctioneers achieve a lot while managing limited resources towards meeting your business goals and expectations of your clients and customers.

“Online digital marketing is essential for modern-day brand visibility and marketing. Its application to online auction follows the same guiding principles applicable to all known economic sectors but an individual’s approach might differ,” he said.

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