By Praise Chinecherem
Anambra based industralist, Engr John Ezeobi has decried continued undermining of efforts of genuine local manufacturers of wires and cables by importers of the substandard products into the country.
Speaking to newsmen in Onitsha, Engr. Ezeobi, Chairman of Zobis Electrical Wires and Cables lamented that the substandard cables and wires importers capitlise on the gap in the industry which has created demands for affordable alternative even as they failed to meet up with the standard.
“These unscrupulous importers have amassed billions of naira in profit even when they undermined the efforts of genuine Nigerian manufacturers.
“These substandard cables and wires, regrettably, posed significant risk because of the poor quality,” he decried.
Ezeobi however disclosed that the annual market value of cables and wires sold in open market to the tune of over N200billion.
“But when considered against the backdrop of such other sectors like oil and gas, power and real estate which source their cable and wire needs directly from manufacturers, the market’s overall value significantly exceeds the N200billion estimate.
“The potential of the industry is huge because as the country’s population increases, so does the demand for housing, infrastructure and industrial cables and wires also increase.
“Inspite of these challenges, we have continued to trudge on through strategic massive expansion and collaboration with the Nigerian government. We will continue to harness full potential of the domestic market.
“The prospects within the industry are vast, and if effectively tapped , they could have a transformative impact on the national economy.
“The ongoing demand for housing, he said, created a huge market for electrical cables and wires as every new structure requires these aspect of housing components.
“As the real estate market expands , the electrical cable and wire industry stands to benefit significantly, further fuelling Nigeria’s economic growth.
“In the same vein, realization of the full potential of the industry would help in employment generation. With proper support and investment, companies like Zobis Electrical Wires and Cables can expand their operations to meet both domestic and international demands,” he added.
The chairman said this expansion would create need for factory workers, administrative staff, sales and marketing team and extensive network of distributors within and outside the country.
Describing the future of cables and wires as bright, Engr Ezeobi called on the Nigerian Government to prioritize the empowerment of electrical cable and wire industry in the country through supportive policies, infrastructure development and access to financing so as to realize the potential of the Induststry as well as dominate African market and compete on global scale.
