Federal Government has reiterated its commitment to supporting local metre manufacturers in the country, aimed at stimulating industrial growth in the power sector
The Minister of Power, Adebayo Adelabu made the pledge during a visit to Momas Electricity Metres Manufacturing Company Limited (MEMMCOL) in Mowe, Ogun State.
MEMMCOL is an indigenous electricity metres manufacturing company with a range of products.
Stressing the need to support local producers, Adelabu disclosed that the Presidential Metering Initiatives plan to install 2.5 million metres yearly for the next five years.
He said; “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. 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 products will be achieved.
“We need to start training our people in technical training.” the minister explained.
Commending MOMAS for its contributions to bridging the metering gap, Adelabu said “its investment in metering and other electrical equipment is topnotch”
“lt one of the intentions of the government is to ensure we are back on the import substitution journey. The only way we can do this is to support local manufacturers, apart from support.
“We must also incentivize them by providing a conducive atmosphere that makes their production activities in terms of cost competitive.”
