Multi-billion Naira Meter Assembly Plant To Be Set Up In Lagos.

Multi-billion naira meter assembly plant to be set up in Lagos
September 13, 2013 | Filed under: Company News | Posted by: Editor

MOJEC International Nigeria Limited, in partnership with a Chinese meter manufacturing company, is setting up a multi-billion naira world-class SKD meter assembly plant in Lagos.
MOJEC International is one of the companies engaged by Power Holding Company of Nigeria (PHCN) to sell and install meters under the newly introduced Credit Advance Payment Metering Implementation Scheme (CAPMI).

The factory to be sited along Oshodi/Isolo Expressway will be funded by the Bank of Industry (BoI).

According to Mojisola Abdul, the president/chief executive officer of MOJEC, all arrangements have been concluded with the partners to set up the company in Nigeria before the end of this year or latest first quarter of 2013. When the factory is fully operational, she said, it would serve the yawning Nigerian and African meter markets.

The meters, which are to be assembled in different categories, are expected to fill the gap in meter supply in Nigeria, especially with the introduction of CAPMI.

CAPMI, instituted by Nigerian Electricity Regulation Commission (NERC), is to address the ugly trend through the payment for meter in the country.

Abdul, however, told BusinessDay, that it was indeed a new dawn in the electricity industry in Nigeria. “We are assuring esteemed customers that we have put up a broad range of solutions to make electricity metering challenges a thing of the past in Nigeria,” she said.

Her company, she said, has taken into consideration the ease and conveniences of the various segments of customers in all solutions.

“Based on the anticipated large demand for various meters, we are poised to meet categories of customers’ demands, especially when the SKD meter assembly plant is in place,” she added.

But according to Bolaji Oyesiku, managing director/CEO of Ibadan Electricity Distribution Company (IBEDC), CAPMI is meant to make electricity users accountable and happy over billing mechanism. The creation of CAPMI, he said, became necessary to address what he called the “ugly trend through the payment for meter, the fund of which is refundable over a period of three years with a 12 percent interest in which cost of meter and meter box will be refunded by the PHCN”.

Speaking at a recent forum organised by IBEDC, one of the 11 distribution companies of PHCN, to formally commence CAPMI in the zone, however, Abdul, who spoke on behalf of other CAPMI contractors, promised to deliver quality products and services to IBEDC.

By: Remi Feyisipo