Local content policy should boost local production

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Speaking at a press conference in Lagos recently, Sheta, whose portfolio covers Nigeria, Ghana, Sierra Leone, Gambia and Liberia, said the ICT local content policy that was introduced by the federal government in 2013, should be able to lead to industrial growth for the country.

"Today, most elements in the manufacturing sector are imported and it will be good if the local content is implemented to increase the local part of production. This will improve the diversification of the industrial part of the economy and could absorb the effect of the drop of crude oil prices. We believe that the local content policy should encourage more local manufacturing that can boost the Nigerian economy, aside oil," Sheta said.

After a series of engagements and consultations with key stakeholders, The Ministry of Communications Technology had introduced guidelines for Nigerian Content Development in ICT" in December 2013, to support the realisation of local content development policy thrust after a series of engagements and consultations.

According to Sheta, the dream of Schneider Electric as private investor, is to enforce the real local manufacturing of products.

"The country of origin of the product should be Nigeria, and this will encourage Nigerians to produce locally, and will bring about improved skills and efficiency," he said.

Speaking on the investments of Schneider Electric in Nigeria, Sheta said the company would market its 10th anniversary this year of doing business in the energy sector in Nigeria. According to the anniversary will be celebrated as a full subsidiary in Nigeria.

According to Sheta, the dream of Schneider Electric as private investor, is to enforce the real local manufacturing of the product. The country of origin of the product should be Nigeria, and this will encourage Nigerians to produce locally, and will bring about improved skills and efficiency.

Speaking on the investments of Schneider Electric in Nigeria, Sheta said the company would this year, clock ten years of doing business in the energy sector in Nigeria and plans to celebrate its 10th anniversary as a full subsidiary in Nigeria. The company, he said, in 10 years had maintained quality service delivery and would continue to deliver quality service to its clients across the country.

"Schneider Electric is known in the power world as a good provider of energy systems, especially from the utility angle, distribution companies and generation companies," he said, he said, adding that the next stage for the company is to address emerging segments in Nigeria like the buildings sector.

"In places like Victoria Island, Lekki, in Lagos, Port Harcourt and Abuja, there are tremendous works on-going in the building and construction sector. We see multi-storey structures everywhere. So we are going to address this emerging segment which is essential in a growing market where the middle class is rising. Housing is an important market and we are going to address this growing need," Sheta said. According to him, "There are more than 180 million inhabitants living in many cities in Nigeria. Among the 30 biggest cities in Africa, 10 are in Nigeria. Geographic coverage is going to be key for Schneider Electric. We will be present in all these cities to provide the necessary solutions for these massive infrastructure projects," he said.

Also speaking, Vice President, Retail Business of Schneider Electric, Mr. Tonye Briggs, said from the population of over 150 million Nigerians, the housing deficit in the country is well over 12 million.

"We all know how much we fight against counterfeits, which are major causes of fire in terms of our wiring devices, and electrical fittings. For us to be able to take our original products to the market, we are structuring the market because the market is diffused," Briggs said.