The Minister of Power in Nigeria, Mr. Adebayo Adelabu, has announced the Federal Government’s readiness to collaborate with local electrical manufacturer, Coleman Wires and Cables Industries Limited, to enhance the power sector and create jobs.
Speaking during a tour of Coleman’s factories in Arepo and Sagamu, Ogun State, the Minister, who was impressed by what he saw, emphasized Coleman’s capacity to support the power sector in all segments.
“A lot of investment has gone in here, and I am impressed that they are in a position to support the power sector in all segments, from generation to transmission and distribution. They have good capacity, and I am happy that this kind of company is here in Nigeria. The government is ready to support local manufacturers by improving local content and government patronage. I am also convinced that the quality of their products is quite optimal in terms of certification. I am proud that this kind of factory exists in Nigeria,” he said.
Adebayo stressed that the government needs to support companies like Coleman and make their operations easier. “We should also support them in terms of patronage and allow them to contribute to the power sector projects in Nigeria,” he added.
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The Minister also stated that the government would support local manufacturers in sourcing foreign exchange for the import content in their production, which is one of the significant challenges in manufacturing in Nigeria.
“Many of them struggle to source foreign exchange for their importation. I am pledging that we will engage the Central Bank of Nigeria (CBN) to find native ways of supporting local manufacturers so that we can compete globally. We need to support them because they create employment.
These are large factories, and the number of people here impressed me,” he added.
Responding, Coleman Managing Director Mr. George Onafowokan emphasized that collaboration with the government would benefit the company and encourage further investment in the country.
“We see the expansion of our power plant creating capacity in the country. Coleman is here for Nigeria to deliver the country’s goals, making local content possible. When we achieve this, we create value and export to other countries. This collaboration with the government will be an advantage to us and encourage us to invest more,” he said.
