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Power Minister Unveils New Meter Factory

...Set to boost Local Content

Published

Wednesday, October 16, 2024 at 08:47 PM

Written by Brenda Izu

Power Minister Unveils New Meter Factory

In a significant boost to Nigeria's power sector, Minister of Power, Adebayo Adelabu, has unveiled Hexing Livoltek, a state-of-the-art electricity meter manufacturing company located in the Lekki area of Lagos State.

This milestone marks a major step towards achieving a more efficient and equitable electricity sector in Nigeria.

During the unveiling ceremony, on Wednesday, Adelabu commended Hexing Livoltek for its significant investment in Nigeria, particularly at a time when some companies are divesting.

Hexing also produces other electrical installations and solar products aside from prepaid meters.

Adelabu, while unveiling the company, commended the firm for investing so much in Nigeria at a time when some were divesting.

The minister noted that the event marked a significant milestone in the journey of the sector towards a more efficient and equitable electricity sector.

He said “Let me mention that the event of today is quite significant and important to me given a determined focus on developing and improving local content in the power sector, for the sustainability of the sector and job creation for our teeming population, which is why I have to cut short my short vacation to ensure I’m able to attend the event here today,”.

The minister further said the launch of the meter factory represented a key achievement in the ongoing efforts to prioritise local content, foster job creation and reduce Nigeria’s reliance on importation.

According to him, it would reduce the pressure on the naira and “improve the exchange rate that has recently gone haywire with its impact on the cost of living and the hardship our people are passing through."

He maintained that the government is promoting domestic production of essential energy components like meters, driving industrial growth and enhancing the sustainability of the power sector.

“We know what it involves to keep relying on imports for the components used in our power sector infrastructure, from generation to transmission to distribution. We keep importing power transformers, we keep importing power cables. We are importing importing meters.

“It elongates the turnaround timing to fix our dilapidated infrastructure. The process of opening Form M, applying for FX allocation, doing the import itself in terms of freight, of clearing our imports. This is one of the reasons why we have experienced the kind of deplorable state of our infrastructure in the power sector. We believe that if a lot of these materials can be sourced locally, the timing required for fixing this infrastructure will greatly reduce and the gaps we currently experience will be filled,” he stated.

The power minister urged the company to promote local content by integrating more Nigerians into its workforce.

On his part, The Chief Executive Officer of Hexing Group, Robert Liang, expressed optimism about Hexing’s expansion into Nigeria, calling it a pivotal moment for the company and a commitment to advancing clean energy in the country.

“This is a proud moment for the Hexing Group as we open our branch in Nigeria. It’s more than just an office; it’s a step towards a future where clean energy drives the growth of this great nation.” He said.

Edited By: Chinedu Eze

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Power Minister Unveils New Meter Factory

In a significant boost to Nigeria's power sector, Minister of Power, Adebayo Adelabu, has unveiled Hexing Livoltek, a state-of-the-art electricity meter manufacturing company located in the Lekki area of Lagos State.

This milestone marks a major step towards achieving a more efficient and equitable electricity sector in Nigeria.

During the unveiling ceremony, on Wednesday, Adelabu commended Hexing Livoltek for its significant investment in Nigeria, particularly at a time when some companies are divesting.

Hexing also produces other electrical installations and solar products aside from prepaid meters.

Adelabu, while unveiling the company, commended the firm for investing so much in Nigeria at a time when some were divesting.

The minister noted that the event marked a significant milestone in the journey of the sector towards a more efficient and equitable electricity sector.

The minister further said the launch of the meter factory represented a key achievement in the ongoing efforts to prioritise local content, foster job creation and reduce Nigeria’s reliance on importation.

According to him, it would reduce the pressure on the naira and “improve the exchange rate that has recently gone haywire with its impact on the cost of living and the hardship our people are passing through."

He maintained that the government is promoting domestic production of essential energy components like meters, driving industrial growth and enhancing the sustainability of the power sector.

“We know what it involves to keep relying on imports for the components used in our power sector infrastructure, from generation to transmission to distribution. We keep importing power transformers, we keep importing power cables. We are importing importing meters.

The power minister urged the company to promote local content by integrating more Nigerians into its workforce.

On his part, The Chief Executive Officer of Hexing Group, Robert Liang, expressed optimism about Hexing’s expansion into Nigeria, calling it a pivotal moment for the company and a commitment to advancing clean energy in the country.

“This is a proud moment for the Hexing Group as we open our branch in Nigeria. It’s more than just an office; it’s a step towards a future where clean energy drives the growth of this great nation.” He said.

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