Connect with us

Business

Nasarawa: Where Smes Rely On Generators For Electricity

Published

5 years ago

on

Lukman Olukoya is a technician and the owner of Nakowa Technical Works in Lafia. Olukoya who has trained many technicians says the insufficient electricity supply has made business difficult for SMEs in the state.

Lukman Olukoya popularly called “Nakowa” is the owner of Nakowa metal works on Kurikyo road, Lafia in Nasarawa State. He ventured into fabrication in 1988 and learnt the skill from Danzaki Technical Works and because he had the zeal to learn the trade, he was able to learn and surpass his contemporaries and started mounting the delicate heavy duty lathe machine in six months and graduated in only three years instead of the mandatory five years in 1991.

 

Since he graduated, he relocated from Kaduna to Lafia and that is where he has been operating for almost three decades.

Lukman Olukoya said, “I have trained twenty boys in Lafia or what is called ‘freedom’ in local parlance. However, small and medium scale enterprises (SMEs) are in desperate need of electricity in Lafia. We  get about five hours of electricity supply daily at no fixed time coupled with an alleged overbilling of customers by the Abuja Electricity Distribution Company otherwise known as AE

When I came from Kaduna to Nasarawa, there was electricity then, during the time of the defunct National Electric Power Authority, (NEPA), but later on when the Power Holding Company (PHCN) and later AEDC held sway, the bill charged was increasing from the money from few hundreds to thousands of naira while the power supplied to the consumers was decreasing till when it came to about four to one hours daily.

However about ten years ago, he said, he bought a generator and started relying on it and when he realized that his customers wants efficiency and were inpatient, he then bought a generator and solely relied on it from nine in the morning to six in the evenings and he told PHCN and later AEDC to disconnect him due to their inefficiency.

Olukoya said, “I now spend about four thousand naira daily on diesel for my generator which is expensive. Though expensive but its reliable because my business uses heavy duty equipment. One for drilling, one for plating and other machines that rely solely on power from three-phase supply of electricity daily. If there is power, I will be happy as I will save some money to expand by buying more modern machines.”

Olukoya continues: “This is the case with many SMEs in Lafia and that is why we won’t grow. We are calling on the federal and state government to connect Lafia to national grid for power to stabilize and for SMEs to grow. If the power supply would improve and I pay like eight thousand naira with estimated or prepaid meter, I would be good. I and others like me spend a lot of money on diesel, routine service and general maintenance and if you calculate it, it all boils down on the SMEs and the local consumers.”

However, Olukoya said, for one to start fabrication business, one needs to have a capital of about one million to start small with one small lathe machine which costs about 400,000 thousand naira, including renting a shop and a source of light which is a dedicated generator. While one could upgrade his working machines in due course as a medium lathe machine costs about 700,000 naira and a big one goes for 2 million naira.

He said he bought his fairly used filling, lathe, drilling, plating machine some years ago as ‘Belguim’ at  the cost of N1.8 about seven years ago, but due to the increase in the exchange rate, the cost is now about 2.5 million from a dealer in Lagos or even if one imports directly. He said he started with the small lathe and later on upgraded.

Similarly, Lukman Olukoya said he was amazed by the simplicity of a graduate in Engineering but did not know how to operate a lathe machine. “At his spare time , he came to me and I taught him to operate the machine,” he said.

The Technician however called on the government to always ensure that those in the university were taught practical or sent to them to learn the practical before they graduate for the development of Nigeria. He said is it sad that youth with degrees don’t know how to operate a lathe machine, while they have teenagers who operate different heavy duty machines while they are in junior secondary schools.

He said he is happy to be in a state that has been in peace, earning his livelihood, paying tax to Lafia Local Governmrnt, Nasarawa State government and to the Federal Inland Revenue Service, (FIRS) and then training eight boys.

Lukeman Olukoya who has trained many technicians however called on the youth to learn any trade or handicraft for them to earn a living and develop the country.

 

Related Topics:
Continue Reading
Click to comment

Leave a Reply

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

Business

Access Bank Group, Aig-Imoukhuede Foundation Pledge $300m to Transform Africa’s Economic Landscape

Published

3 days ago

on

May 16, 2024

By

“We can’t wait to be saved; Africans need to solve Africa’s problems. This $300 million commitment reflects this reality’’ – Aig-Imoukhuede

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The Aig-Imoukhuede Foundation and Access Bank Group have pledged $300 million in charitable commitments over the next 20 years. Access Bank has committed $200 million and Aig-Imoukhuede Foundation committed $100 million.

President Paul Kagame, President of the Republic of Rwanda and Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC, at the Africa CEO Forum 2024 in Kigali…Thursday.

This will fund African government initiatives with a proven potential to transform national economic performance.

Speaking about the commitment, Aigboje Aig-Imoukhuede, Chairman, Access Holdings and Co-Founder, Aig-Imoukhuede Foundation, said, “We can’t wait to be saved, Africans need to solve Africa’s problems. This $300 million commitment reflects this reality.”

President Paul Kagame, President of the Republic of Rwanda and Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC, at the Africa CEO Forum 2024 in Kigali…Thursday.

Appropriately, this announcement was made at the Africa CEO Forum 2024 in Kigali, Rwanda, where the theme of this year’s event is ‘At the table or on the menu?’. At the event, CEOs from across the continent joined to discuss how Africa can demand a seat at the global table, rather than continuing to wait to be invited.

The fund will see the creation of an African-led Super NGO in partnership with academics, experts and philanthropists across the globe who are committed to closing the gap between Africa and the rest of the world. The NGO will work with African governments to provide the funding, governance and talent required to successfully execute game changing government reform programs, especially in the delivery of digital public infrastructure.

The development comes at a time when Ajay Banga, President of the World Bank, has warned wealthy countries that it would be short-sighted to “ignore” Africa. This landmark Africa-led initiative could not have been better timed.

Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC and Co-founder, Aig-Imoukhuede Foundation and Ofovwe Aig-Imoukhuede, Co-founder, Aig-Imoukhuede Foundation, on the sidelines of the Africa CEO Forum 2024 in Kigali…Thursday.

“We African leaders cannot sit back and watch the 4th Industrial Revolution transform the rest of the world while leaving Africa falling further behind. We have to create our own ‘table’ by using technology to unlock the power of our youth, giving Africa a greater voice in the world. It’s today’s leaders who will determine whether or not we grab this opportunity,” Aigboje Aig-Imoukhuede continued.

The availability of digital public infrastructure is a proven and cost-effective way for developing nations to break free of the status quo. It provides citizens with access to the same public goods and services available to citizens of advanced nations.

The India Stack has become a shining example of what can be achieved when visionary public and private sector leaders partner for development.

The Access Bank and Aig-Imoukhuede Foundation inspired NGO will make such partnerships a reality and delivering measurable improvements to the lives of Africans across the continent.

Notes to Editor:
For media inquiries, please contact:
communication@aigafrica.org or +234 808 5716 788
mediarelations@accessbankplc.com or +234 803 320 4315

ABOUT THE AIG-IMOUKHUEDE FOUNDATION
The Aig-Imoukhuede Foundation is a public sector-focused philanthropic organisation founded by Aigboje and Ofovwe Aig-Imoukhuede to improve the lives of Africans through transformed public service delivery and increased access to quality primary healthcare. The Aig-Imoukhuede Foundation accomplishes its mission by supporting the reform initiatives of public sector entities, providing financing, technical support, and capacity-building programmes and resources for the public sector workforce. The Foundation also provides funding and strategic support to drive the work of affiliate organisations such as Africa Business Coalition for Health (ABC Health), the Private Sector Health Alliance of Nigeria (PSHAN), the Nigerian Solidarity Support Fund (NSSF) and others.

For more information, please visit www.aigimoukhuedefoundation.org.

Continue Reading

Business

AIGBOJE AIG-IMOUKHUEDE APPOINTED PRESIDENT OF FRANCE NIGERIA BUSINESS COUNCIL

Published

5 days ago

on

May 14, 2024

By

AIGBOJE AIG-IMOUKHUEDE APPOINTED PRESIDENT OF FRANCE NIGERIA BUSINESS COUNCIL

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

At the esteemed Choose France Summit 2024, held on Monday, May 13, 2024, Aigboje Aig-Imoukhuede, the Chairman of Access Holdings PLC, was formally appointed as the President of the France Nigeria Business Council (FNBC) by the President of the French Republic, President Emmanuel Macron.

Aigboje Aig-Imoukhuede having a handshake and a tête-à-tête with President Macron at the Council’s meeting with the President, and Gilbert Chagoury looking on.

The France Nigeria Business Council (FNBC) stands as a pivotal coalition of Nigerian private sector business leaders, committed to enhancing bilateral relations between Nigeria and France. Its core objectives revolve around the facilitation of trade, investments, infrastructural development, job creation, and cultural integration between the two nations.

Since its establishment in June 2021 under the auspices of President Emmanuel Macron, the FNBC has diligently utilised its member network to champion investments across key business sectors, fostering cultural understanding and driving economic growth between Nigeria and France. Notably, it has catalysed Nigerian businesses’ ventures into investment opportunities within France.

Comprising 13 distinguished members, the Council boasts prominent figures including Aigboje Aig-Imoukhuede (President), Abdul Samad Rabiu, Gilbert Chagoury, Mike Adenuga, Aliko Dangote, Jim Ovia, Tony Elumelu, and John Coumantaros. Additionally, Kola Karim, Leo Stan Ekeh, Daisy Danjuma, Gbenga Agboola, and Jean Haas serve as integral members, with Jean Haas holding the position of Secretary.

Aig-Imoukhuede’s appointment follows the passing of Herbert Wigwe, the Council’s former President, in February 2024.

Aigboje Aig-Imoukhuede having a handshake and a tête-à-tête with President Macron at the Council’s meeting with the President, and Gilbert Chagoury looking on.

The Choose France Summit is an annual gathering that convenes business magnates, investors, and governmental dignitaries to explore investment prospects within France. The highlight of the Summit was the Presidential Dinner, characterised by high-level engagements and mutual commitments between participating parties.

Continue Reading

Business

ACCESS BANK (SL) LTD STRENGTHENS LEADERSHIP TEAM WITH KEY BOARD APPOINTMENTS, NAMES NEW CHAIRMAN

Published

6 days ago

on

May 13, 2024

By

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Bank Sierra Leone Ltd (‘Access Bank (SL) Ltd’) has announced the appointment of new executives to its Board of Directors (‘the Board’), further strengthening its leadership team and advancing the implementation of its growth and transformation strategy.

These appointments also reflect the Bank’s commitment to fostering growth and development while maintaining the highest standards of governance and stewardship.

Joining the Board as Non-Executive Directors are Maurice Nathaniel Cole, Nsikak N. Usoro, Michala Mackay, Ibrahim Khalil Lamin, and Kolawole Augustine Ajimoko.

The appointees boast a wealth of expertise from diverse sectors, including banking, telecommunications, corporate governance, compliance, and finance. Their combined experience and vision will contribute to shaping the future trajectory of Access Bank (SL) Ltd.

Cole will serve as Chairman, following the exit of Alice Marie Onomake and will bring his experience to the fore as Access Bank (SL) Ltd works to consolidate its market position and deliver value for all its stakeholders.

“We are thrilled to welcome our new executives to Access Bank (SL) Ltd,” said Ganiyu Sanni, Country Managing Director, Access Bank Sierra Leone Ltd. “Their leadership and vision will be invaluable as we navigate through challenges and pursue sustained success. We extend our gratitude to outgoing Chairman, Alice Marie Onomake, and Non-Executive Director, Aminata B. Dumbuya, for their dedicated service and contributions to the Bank.”

Access Bank (SL) Ltd remains committed to excellence, transparency, and accountability as it embarks on this exciting new chapter. The Bank looks forward to leveraging the collective expertise of its leadership team to drive innovation, foster growth, and create lasting impact for its customers and communities.

Continue Reading

Trending

Copyright © 2021 All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from August24news.com
This Website is designed and Managed by: August 24 Communications Nigerian Limited (RC: 798585)