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Nigeria accounts for 80% of W/Africa’s OEMs’ revenue

By Adeyemi Adepetun
28 July 2015   |   10:59 pm
THE robustness of the Nigerian market came to the fore at the weekend, in Lagos with the confirmation that the country currently accounts for 80 per cent revenue base for West Africa’s Original Equipment Manufacturers (OEMs).     According to Market Intelligence Report, over 1000 OEMs are domiciled in West African countries including Nigeria, Ghana,…

Business-Growth-damangmediaTHE robustness of the Nigerian market came to the fore at the weekend, in Lagos with the confirmation that the country currently accounts for 80 per cent revenue base for West Africa’s Original Equipment Manufacturers (OEMs).
   
According to Market Intelligence Report, over 1000 OEMs are domiciled in West African countries including Nigeria, Ghana, Benin, Niger, Ivory Coast, Cerpe Verde, Mali among others.
   
Speaking to The Guardian, the Regional Sales Manager, West Africa, Eaton Electrical Sector, Charles Iyo, who observed this growth, said the Nigerian market is getting bigger and becoming more attractive per day. Iyo stressed that Nigeria has become the hub for West African market.
   
“Today, the market in West Africa resides in Nigeria and that is why virtually all OEMs within the region found it comfortable to come and establish presence here. This is despite some notable challenges, especially power. But we know that the challenges are been addressed adequately”, he stated.
   
Iyo said that the emergence of Nigeria in West Africa as an economic power-house was dependent on developing innovative technologies to solve the country’s toughest power management challenges.
 
Iyo, who was recently appointed by Eaton, as the Regional Sales Manager to deepen its presence in Africa, said the firm is a power management company with 2014 sales of $22.6 billion. He said the company provides energy-efficient solutions that help customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably.
 
According to him, Eaton has approximately 102,000 employees and sells products to customers in more than 175 countries.
   
Iyo informed that in every home in Nigeria, Eaton has supplied one industrial or electrical component or the other.
   
He said Eaton provides end to end solutions for electrical businesses including UPS, power distribution, filtration and hydraulics and data centres, among others.
 
The Eaton Regional Sales Manager, who informed that the firm is efficiently one year old in Nigeria, said it does not sell directly to end users, but employ the services of channel partners to distribute its products in the country and other markets.
   
According to him, in Africa, the company focuses on the creation of customised solutions to meet customers’ specific power management needs.
   
Iyo, who harped on the importance of solar energy, noted that the development and use of innovative technologies is critical in increasing energy efficiency in Nigeria and other part of Africa.
 
He said that Africa’s energy challenges lie not in building more and larger power generation plants, but instead in investment in advance power management technologies to enable businesses to do more with less energy in an increasingly resource constrained world.
 
Iyo said the current reforms in the energy sector will enable Nigeria to overcome its huge deficit in the supply of electricity, stressing that Eaton is well positioned to support businesses with customised, end-to-end solutions for their oil and gas plants, utility requirements and renewable energy management needs,” he added.

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