Coleman Invests N700bn In 20 Years

Coleman Wires and Cables Industries Limited has highlighted its remarkable journey from a trading outfit in 1975 to a manufacturing giant with over N700 billion cumulative investments and a turnover exceeding N137 billion in 2024.

Speaking at a press conference ahead of the company’s golden jubilee celebration in October 2025, CEO of Coleman Wires, George Onafowokan emphasised Coleman’s pivotal role as Nigeria’s premier indigenous cable manufacturing enterprise, celebrating five decades of innovation, resilience, and significant contributions to national development.

“Our unwavering dedication to quality, innovation, and local content sets us apart in the West African region. We have continually contributed to national infrastructure development with our high-quality electrical and telecommunications cables,” Onafowokan stated.

He shared news about the company’s expansion achievements, including the commissioning of West Africa’s first XLPE medium/high-voltage cable plant and a fibre-optic facility, both situated in Nigeria, saying that “Coleman’s manufacturing capabilities now encompass 390,000 tonnes of copper and 108,000 tonnes of aluminium, with plans to expand fibre optic production to nine million fibre kilometres annually.

“Our Sagamu and Arepo plants rank among the largest in sub-Saharan Africa, currently supporting over 700 direct and 7,000 indirect jobs, with plans to triple this number in the next two years.”
Onafowokan also introduced the company’s newly completed continuous casting smelter—the first of its kind in Nigeria—capable of producing 10,000 tonnes of copper and 3,000 tonnes of aluminium each year, with ambitions to double this capacity.

While celebrating these achievements, he raised important concerns regarding regulatory challenges, particularly the delay in finalising the 2025 tariff policy guidelines.

“We missed the opportunity to benefit from the 2024 tariff measures, as the most recent update was in 2023. We are hopeful that the President will endorse the 2025 tariff guidelines this month, as it is crucial for the health of the manufacturing sector,” he said.

Onafowokan emphasised the need for reforms in gas pricing, noting that manufacturers like Coleman, which operate their own gas-powered plants, face costs as high as $8 per thousand cubic feet while exporters enjoy lower rates.

“Energy costs account for 40 to 60 per cent of our production expenses. We mustn’t be disadvantaged by our investment in energy security; we need a fair and competitive environment,” he urged.

He highlighted the efficiency brought by Coleman’s embedded 28MW gas power plant, which fuels energy across production sites and supports logistics with more than 40 new electric forklifts.

As the chairman of the Manufacturers Association of Nigeria (MAN) in Ogun State, Onafowokan called for stronger enforcement of local content policies and support for cross-border trade under the African Continental Free Trade Area (AfCFTA).

Looking ahead, he stated, “we are committed to investing in renewable energy solutions, broadband infrastructure, and smart grid technologies.”

He reaffirmed the company’s commitment to making a positive impact on both its local community and Nigeria as a whole.