Speakers at a recent seminar in Lagos have re-emphasised the need for improved power supply in the country, maintaining that its availability was key to a robust economy.
They tasked both the country and power solutions providers to come up with innovations to help investors get maximum return on their investments.
The seminar which was organised by Mantrac Nigeria Ltd (formerly Tractor & Equipment) was to keep customers abreast of the company’s products, facilities, support services and update on new product options introduced by Caterpillar.
Mantrac has branches in 10 African countries and elsewhere in Asia and Europe.
Speaking at the forum, ‘Power to grow your business’, at Oriental Hotel, Lekki, Lagos, the participants applauded the country’s quest to generate more power, maintaining, however, that in the interim private power solutions remained the best option open to businesses.
During the event, Caterpillar assured of making available, new power generation equipment to the Nigerian market to boost the country’s domestic and industrial power supplies.
The Managing Director of Mantrac (Caterpillar’s sole authorised dealer in Caterpillar products for over 65 years), Edmund Martin-Lawson, said: “The focus of the seminar is to enlighten the business community on the power to do business. Without power we won’t have energy; without energy we can’t produce. We need power everywhere and what we are saying today is that we have the power systems to grow business and move forward.”
He noted that the world was now moving forward so rapidly and hybrid power systems that utilise solar energy and battery were now available to support the power needs of businesses.
He recalled that “Nigeria needs over 20,000 megawatts of power but unfortunately what is being generated now is far too low. That is why there is need to bridge the gap between what is available and the power goals the country wants to realise in future.
“Definitely it is important for Nigeria to have power because the economy has been growing steadily for some time now. If we have increased power supply capacity, the growth rate which is currently in single digit will definitely be in double digit. What that means is that the country and economy definitely need extra power to move industries and businesses forward.
“That shortfall will come from power systems providers who have the capacity to provide the needed power equipment that will add more power through the country’s IPP project,” he said.
Caterpillar’s Territory Manager, Stefan Laszenwski, based in Geneva, Switzerland, assured of his company’s readiness to assist Nigeria with power solution equipment to help in realising her power needs.
Laszenwski disclosed that progress was key in the world now, noting that Nigeria needed to march forward and availability of power was key to such move. Laszenwski who praised the country’s determined drive to improve power generation, noted that the country’s Independent Power Project (IPP) initiative would be enhanced with the latest range of equipment in his company’s stable, adding that such products could power thousands of homes, islands, marine installations and Central Business Districts (CBD). Some he said run on gas. “I believe that what we have now will improve the capacity of most Nigerian companies to do business. The option of gas-powered generators gives industrial customers up to 70 percent savings on running cost.
Other speakers made presentations at the event on aspects of power, one of them being Ashish Varshney who spoke on “New C32/DC Hybrid Solution/Micro Grid CAT Advantages.” His presentation was followed by that of Mohamed Abou El Wafa who spoke on “Introduction to DGB Kits and Gas Offering.” Yinka Boluwade took the audience through Product Support Solutions– using Product Link.”
The product link service is a satellite-based system installed in all new equipment from Caterpillar. It gathers data from a machine and gives Mantrac and the owner real time and wed-based information on its operations.
Business owners were excited to learn that Stanbic Bank Plc had enlisted to finance the purchase of Caterpillar generating sets for customers, under an arrangement called CAT Finance. This was said to be tailored to meet various needs with interest rate as low as 13.5 percent per annum and down payment from 20 percent and helps customers to grow their businesses faster.
During the question and answer sessions, other participants learnt how innovations in the power sector could improve their capacity to grow their investments.
