Expert Forecasts Nigerian Cable Market To Exceed N200 Billion

Chairman of Zobis Electrical Wires and Cables, Engr John Ezeobi has raised concerns about the negative impact of substandard cable imports on the local manufacturing industry in Nigeria.

During an exclusive interview in Onitsha, Anambra State, Ezeobi highlighted the challenges facing genuine manufacturers as they struggle to compete against the influx of inferior products.

Ezeobi revealed that the annual market value of cables and wires sold in Nigeria’s open market is estimated to exceed N200 billion.

However, when factoring in sectors such as oil and gas, power, and real estate—where cables and wires are sourced directly from manufacturers—the market’s overall value is significantly higher.

He emphasized the vast potential of the industry, noting that as Nigeria’s population grows, so too does the demand for housing, infrastructure, and industrial cables.

“The prospects within the industry are vast, and if effectively tapped, they could have a transformative impact on the national economy,” Ezeobi stated.

Despite the challenges posed by substandard imports, Ezeobi expressed confidence in the industry’s future.

He explained that the ongoing demand for housing creates a substantial market for electrical cables and wires, with every new building requiring these essential components. As the real estate market expands, the cable and wire industry stands to benefit, further contributing to Nigeria’s economic growth.

Ezeobi also stressed the importance of fully realizing the industry’s potential for employment generation.

He assured that with adequate support and investment, companies like Zobis Electrical Wires and Cables could expand their operations to meet both domestic and international demands, creating jobs for factory workers, administrative staff, sales and marketing teams, and a vast network of distributors.

Looking to the future, Ezeobi called on the Nigerian government to prioritize the empowerment of the electrical cable and wire industry.

He urged for supportive policies, infrastructure development, and increased access to financing to help the industry reach its full potential, dominate the African market, and compete on a global scale.