In an effort to promote the expansion of the industrial sector and improve the development of local content, the federal government is committed to providing support to local meter producers, as stated by Minister of Power Adebayo Adelabu.
During his working visit to MEMMCOL in Mowe, Ogun State, Adelabu emphasized the government’s commitment to local manufacturing by pledging his support for indigenous producers.
He emphasized the need of providing local producers with long-term funding and reasonable finance.
“We will also prioritise patronage, ensuring sustainability in their operations, aligning with President Bola Tinubu’s renewed agenda.
“It is a must to have significant local content in power sector’s projects and contracts,” Adelabu explained.
Furthermore, he announced initiatives to implement laws ensuring local content in the power sector, as seen in the oil and gas industry, underscoring the essential need for all-encompassing backward integration and technical training efforts.
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“That is the only way local producers can be sustained.
“But, we need to start developing capacity in terms of investment infrastructure and also ensure mass production.
“Need to develop local capacity to avoid importation.
“We must have a comprehensive plan for full backward integration, so that the locally manufactured productst will be achieved.
“We need to start training our people in technical training.” Adelabu said.
2.5 million meters to be installed anually in five years.
Speaking further, Adelabu explained that the Presidential Metering Initiatives plan to install 2 to 2.5 million meters yearly for the next five years.
He stated that the Initial focus is to close significant metering gaps, emphasizing the necessity for collaboration among all stakeholders.
Commending MOMAS for its contributions to bridging the metering gap, Adelabu stated,
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“MOMAS remain our proud local meter manufacturing company in Nigeria. Its investment in metering and other electrical equipment is topnotch.
“I visited the meters manufacturing company to see how they can be supported.
“lt’s part of my visit to see how they can be supported through the meter expansion programme of the Ministry of Power.
“We know that Nigeria is highly import dependence country, this are one of the reason our currency has lost values.
“lt one of the intentions of government to ensure we are back on import substitution journey.
“The only way we can do this is to support local manufacturers, apart from support.
“We must also incentives them by providing conducive atmosphere that we make their production activities in terms of cost to be competitive,” Adelabu said.
