Vice President Kashim Shettima has inaugurated an electric energy meter manufacturing factory in Anambra State, projected to produce 1.4 million meters yearly.
Shettima unveiled the factory called Advanced Energy Management Solutions on Thursday as a move to address the lingering power challenges in the country.
The vice president said the move would help close the gap of meter shortage in the country, as well as drive economic development in the energy sector.
“We commend this initiative as we commission the factory to the glory of God and the use of humanity. This will help reduce the shortage gap of prepaid meters in the country.
“We believe that the establishment of the factory will help resolve the power supply challenges facing the country by addressing the critical issue of the very high metering gap among consumers.
“It is also a direct response to the call by the Federal Government for local and foreign investors to invest in Nigeria, create jobs and stimulate economic activities all around the country.”
Also speaking at the inauguration is the Chief Executive Officer of the factory, Okechukwu Onyejiuwa, who said the factory has an annual production capacity of 1.4 million meters, intending to combat the power shortage in the country.
He highlighted the establishment of the factory, emphasizing its role in supporting the government’s initiatives to resolve the country’s power supply issues, specifically targeting the high metering gap.
“This factory can produce 1.4 million meters annually. The establishment is to support the government’s efforts to resolve the power supply challenges facing the country by addressing the critical issue of the very high metering gap amongst consumers.
“This facility possesses the capability to produce Single Phase and Three Phase as well as Maximum Demand Meters. The manufacturing facility is equipped with advanced, cutting-edge equipment and machinery to manufacture a wide range of MD and non-MD smart energy meters, as well as feeder meters of accuracy class ranging from 0.2S to 1S in compliance with national and international standards,” he said.
Speaking further, the Onyejiuwa noted that the factory can provide about 4,000 employment opportunities in the state, employing indigenous from Anambra as well as outside the locale.
In addition, he stressed the advantages of local meter manufacturers with established capacities instead of outsourcing energy meter supply to foreign companies with import duty waivers.
“The factory is set to create about 500 direct jobs comprising majorly of engineers, technicians as well as finance and administration professionals. In addition to the direct jobs, we estimate that there will also be over 4,000 jobs created by the activities of this company.
“Sourcing of foreign exchange to import machines, equipment and raw materials has been a herculean task in recent years. When manufacturers are left with no alternative than to source foreign exchange from the alternative market, the consequences are that the price of the finished product is impacted very negatively, and the capacity is constrained,“ he added.
Other projects commissioned by the vice president included the official commissioning of Ijele 93.1FM and housing units donated for widows, among others.
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