Sat. May 25th, 2024

N40bn metre contract: Adelabu woos local manufacturers after controversy

By admin Mar 24, 2024
Spread the love

Amid the controversy surrounding the award of a N40 billion metre contract to a foreign firm, the Minister of Power, Adebayo Adelabu, has affirmed the federal Government’s dedication to supporting local meter manufacturers.

The Minister made this known during a recent working visit to MEMMCOL, a local electricity metre manufacturer in Mowe, Ogun State.

Recall that the Minister came under fire over the N40 billion contract the federal Government awarded to De Haryor Global, ignoring indigenous local meter manufacturers.

However, Adelabu assured local metre manufacturers of the government’s resolve to boost indigenous content, stimulate the sectors’ growth and close the metering gap.

He stressed the need to support local producers by ensuring they access affordable financing and long-term capital.

“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 the power sector’s projects and contracts,” Adelabu explained.

“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,” Adelabu said.

By admin

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *

Join Our Whatsapp Group For More News. CLICK HERE..