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Stakeholders Seek Government Support For Local Cable Manufacturing

Olushola Bello by Olushola Bello
6 months ago
in Business
Wire
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Industry stakeholders have called on the government to support indigenous manufacturers through tax waivers and incentives.
A five-man technical team from Eko Electricity Distribution Company (EKEDC) stated this during their visit to Coleman Technical Industries Limited factory in Sagamu, Ogun State,
The EKEDC delegation was received by the managing director of Coleman, George Onafowokan, alongside the company’s executive director, Mr Micheal Onafowokan, who conducted the visitors around the facility.
Onafowokan explained the company’s operations, highlighting its capacity to generate its own electricity to ensure uninterrupted production, as well as its commitment to producing high-quality cables for customers.
Speaking after the inspection, the head of Supply Management and Sourcing at EKEDC, Engr. Maurice Osogbo, described the facility as exceeding expectations.
Osogbo urged the government to introduce policies such as tax breaks to encourage companies like Coleman, stressing that supporting local manufacturers could boost foreign exchange earnings and position Nigeria as a key player in the West African cable market.
Also speaking, the head of Distribution and Operations at EKEDC, Engr. Henry Ukoh, said the visit changed his perception of the company’s capacity, noting that Coleman had evolved beyond household cable production into a large-scale manufacturing operation.

He added that Nigerian companies of such scale deserve government backing to thrive.
Ukoh also raised concerns about whether the company benefits from any tax waivers, urging authorities to provide necessary support to enhance competitiveness.
On product quality, he affirmed that Coleman cables meet high standards, noting that while pricing challenges exist due to market competition, the products remain competitive when import-related costs are considered.
The EKEDC officials concluded that with the right support, companies like Coleman could expand into international markets and significantly contribute to Nigeria’s economic growth.

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Olushola Bello

Olushola Bello

Olushola Bello is a Senior Journalist at Leadership Newspaper, reporting on Nigeria's capital market, industry sectors, and broader economic issues. She is known for high-impact stories and in-depth analysis on business developments and financial markets, underpinned by strong editorial judgement and a commitment to accuracy and fairness.

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