New meter box to address shortfall in accessibility
Acting President Yemi Osinbajo, as part of the Federal Government drive to boost private sector participation, inaugurated a world-class meter and other plastics manufacturing factory constructed with the aim of addressing the shortfall in meter accessibility by end users in Nigeria.
Osinbajo, speaking when he paid a visit to Mojec International Limited, Nigeria’s smart meters manufacturing company in Lagos on Friday, to commission the project, said the facility was a big achievement and milestone that would not only boost local capacity but also create thousands of jobs.
While expressing optimism on the determination of government to achieve its target in the area of power generation, the acting President noted that the facility was a huge step forward for the development of the power sector, noting that it would help significantly in addressing the 6 million energy meter deficit.
Osinbajo, who was encouraged by the company’s 100 percent local capacity, promised that government would continue to provide the enabling environment for local manufacturers to thrive, noting that works were in progress to introduce cheap financing model that would enable them produce meters that meet demand.
Chantelle Abdul, managing director, Mojec International Limited, commended the acting President for his commitment to promoting local content, and expressed the company’s desire to work closely with the Federal Government to find lasting solutions to the problem of steady power supply in Nigeria.
She stated that the current facilities of factory on ground were capable of producing meters from start to finish, saying, “This factory has provided enough proof that local companies can produce meters that can meet global standard, which could consequently help in reversing government policy on local meter manufacturing.
“Here in Mojec, it is very obvious. Practically, every one you see from the factory down to the reception, they are all Nigerians. It shows that we are at the forefront of innovation, manufacturing and human capital development.”
She appealed to the Federal Government to assist local manufacturers by formulating policies that would encourage cheap financing, which could go a long way to make meter accessible to the people.
“From our MAP policy, 70% of meters are expected to be delivered through importation while 30% is local production. If we have a market of about 6 million metering gap, this means only 2 million meters are allowed to be provided locally and that can easily be done by Mojec alone,” she said.
The acting President further observed that it was very obvious that Nigerian talent and creativity had proved they could compete with the best anywhere in the world.