A Chinese firm, Golden Horse Company Limited, has commenced the manufacture of electric meters in Nigeria following the approval of its application by the National Electricity Regulatory Commission (NERC).
This was stated in Abuja by Mr. Mathew Uwaekwe, the National Co-ordinator, Nigeria-China Business Council. He said the company has since commenced production of the meters, and expressed the confidence that jobs will not only be created but that it would save the country millions in foreign exchange that could have been used for the importation of meters.
“The Calabar free trade zone is presently used for the production of the meters. The company has already started full manufacturing of the products,” Uwaekwe said. He said the Chinese government is ready to partner with state governments on their developmental agendas and therefore encourage state governments to come up with proposals and feasibility studies on what business they would want to partner with the Chinese government, as investors will be brought in.
“Energy is the hub of any development in the world. We need stable energy to run any profitable business. We recently signed a Memorandum of understanding MOU with the African Development Bank, with focus on energy, and shifting focus from oil.”
Mr. Jacob Wood, Chairman, Golden Horse Group, said the company was building a permanent and lasting bridge between the two countries, to help ease trading activities.
Wood said the company “is doing all it can to contribute its quota in the society. We would also want to emphasise that we are fully in support of the Buhari government.”