***As Lagos govt promises support
A Lagos-based foreign electrical wares manufacturing firm, Elsewedy Electric has disclosed plans to commence full operation by February ending, 2020 with emphasis on the production of pre-paid meters.
Meantime, as part of measures to create jobs and a business-friendly environment, the Lagos State Government has assured that his administration will continue to provide support for the take-off and sustenance of enterprise in the state.
Lagos State Deputy Governor, Dr. Kadri Hamzat, stated this while receiving the Chief Commercial Officer and Group Vice President, Africa of Elsewedy Electric who led a team on a courtesy visit to the state government, in Alausa-Ikeja.
Speaking further, Hamzat assured that the state is open to engaging such businesses towards getting to take off and operate successfully.
Recalling an Executive Order issued by the state to patronize locally produced goods, the Deputy Governor, said it was a strategy to ensure that Nigeria based companies operate sustainably.
He further promised that the company would get the state’s support if it puts on a sustainable and competitive operation that allows its products to be marketed to other states.
Earlier, the Chief Commercial Officer and Vice President of the electric firm, Mr. Mohammed Atef, said, the visit was to seek the support and cooperation of the state government on expanding its investment in the state and boost job creation as the company “is set to resume its operation at its Badagry factory.”
He stated that apart from producing transformers, the company will also produce pre-paid meters for households.
Atef, explained that the operation will push the employment of Nigerians in the organization from 150 to 350 with a significant transfer of technology by way of training.
While stating that the company will become fully operational by the end of February, Atef, disclosed that the organization is very interested and ready to support efforts by the government to develop the state.
Elsewedy Electric is a manufacturer of electrical components with origin in Egypt. It has evolved into a global provider of energy, digital, and infrastructure solutions with a turnover of Egyptian Pound, EGP 46.6 billion in 2019.
It operates in five key business sectors: Wire and Cable, Electrical Products, Engineering and Construction, Smart Infrastructure and Infrastructure Investments.
It has established green energy and smart metering projects across Africa, the Middle East, and Eastern Europe.
Recall, that the then Lagos State Governor, Babatunde Fashola, while inaugurating the company in Badagry, said, “When I left Lagos in 2008 to Egypt this is what I went there to do with your time and money. Electricity does not fail in Cairo. This is the company that generates and manages electricity in Cairo.
“They are not only in Cairo, but they are also in major parts of Middle-East and Africa. Let us begin to invent and deploy African solutions to the African problem. There is no rocket science in what we have done. In many parts of the world, transformer manufacturing is a cottage industry and it should not be different in Lagos and other parts of Nigeria.
“I, therefore, say with a lot of joy in my heart that I am pleased to be here today to come and formally commission this transformer factory which has been producing transformer for Lagos and indeed Nigeria for nine months.
“Regular and efficient electricity remains the only infrastructure missing that is mitigating against the growth of this country. As long as we remain in government here, we are committed to putting the misery of electricity behind us. If you want to imagine how simple life will be with electricity, just think of how much extra you pay to grind pepper, braid or cut your hair, transport.
“If there is regular electricity, you will save all that money and you will be walking away from poverty with smiles on your faces. This is simply what efficient and reliable power can do and this is what your government intends to do for you.”
