The Chairman of Zobis Electrical Wires and Cables, Engineer John Ezeobi, has highlighted the challenges faced by genuine local manufacturers in Nigeria due to the presence of substandard wires and cables imported into the country.
In an exclusive interview with Voice of Nigeria in Onitsha, Anambra State, Engr Ezeobi stated that the annual market value of cables and wires sold in open markets amounts to over N200bn.
However, when compared to sectors such as oil and gas, power, and real estate that procure directly from manufacturers, the overall market value surpasses the N200bn estimate.
Engr Ezeobi emphasised the enormous potential of the industry, as the demand for housing, infrastructure, and industrial cables and wires increases alongside the country’s growing population.
He expressed concern over the importation of substandard cables and wires, which not only exploit the industry gap but also fail to meet quality standards. These unscrupulous importers have illicitly amassed substantial profits, eff
ectively undermining the efforts of genuine Nigerian manufacturers.
The Chairman underscored the significant risks associated with substandard cables and wires due to their poor quality. Nonetheless, he expressed confidence in the industry’s ability to harness its full potential through strategic expansion and collaboration with the Nigerian government. Engr Ezeobi stated, ‘the vast prospects within the industry have the potential to transform the national economy if effectively tapped.’
He highlighted the electric cables and wires industry’s substantial growth opportunities with the increasing demand for housing and the expansion of the real estate market. Engr Ezeobi believes that this growth will further fuel Nigeria’s economic development.
He also outlined the employment generation potential of the industry and assured that with adequate support and investment, companies like Zobis Electrical Wires and Cables can expand their operations to meet both domestic and international demands.
Engr Ezeobi call
ed on the Nigerian Government to prioritize the empowerment of the electrical cable and wire industry through supportive policies, infrastructure development, and improved access to financing. He believes that these measures are crucial for realising the industry’s potential, dominating the African market, and competing on a global scale.
Source: Voice of Nigeria