₦airaland Forum

Nigerian Cable Market Growth Could Surpass Current 200 Billion Naira Value - Zobis Cable Boss, Ezeobi

The Chairman of Zobis Electrical Wires and Cables, Engr John Ezeobi, has said that importers of substandard wires and cables into the country have been undermining the efforts of genuine local manufacturers of the product in Nigeria.

Speaking in an exclusive interview in Onitsha, Anambra State, Engr. Ezeobi said that the annual market value of cables and wires sold in open market in the amount to over N200b.

But when considered against the backdrop of such other sectors like oil and gas, power and real estate which source their cable and wire needs directly from manufacturers, the market's overall value significantly exceeds the N200b estimate.

He said the potential of the industry is huge because as the country's population increases, so does the demand for housing, infrastructure, and industrial cables and wires also increase.

He lamented that the importers of substandard cables and wires capitlise on the gap in the industry which has created demands for affordable alternative even as they failed to meet up with the standard.

Consequently, he said, these unscrupulous importers have amassed billions of naira in profit even when they undermined the efforts of genuine Nigerian manufacturers.

These substandard cables and wires, Engr Ezeobi said, posed significant risk because of the poor quality.

Inspite of these challenges, said the industrialist, they have continued to trudge on through strategic massive expansion and collaboration with the Nigerian government , expressing optimism that they would harness full potential of the domestic market.

"The prospects within the industry are vast, and if effectively tapped , they could have a transformative impact on the national economy" said Engr. Ezeobi.

The ongoing demand for housing, he said, created a huge market for electrical cables and wires as every new structure requires these aspect of housing components.

He said:"As the real estate market expands , the electrical cable and wire industry stands to benefit significantly, further fuelling Nigeria's economic growth".

In the same vein, he said, realization of the full potential of the industry would help in employment generation, assuring that with proper support and investment, companies like Zobis Electrical Wires and Cables could expand their operations to meet both domestic and international demands.

The chairman said this expansion would create need for factory workers, administrative staff, sales and marketing team and extensive network of distributors within and outside the country.

Noting that the future of cables and wires is bright, Engr Ezeobi called on the Nigerian Government to prioritize the empowerment of electrical cable and wire industry in the country through supportive policies, infrastructure development and access to financing so as to realize the potential of the Industry as well as dominate African market and compete on global scale.

sms4sure:
Seriously, Nigeria Cable is the best.

Kingbenn:
He should stop ranting and focus more on sensitizing his immediate community first thereafter collaborate with the right agencies. All this wailing online no dey move us again

IyfeNamikaze:
it's not that other foreign cable are inferior to ours, it's just that the volts of electricity that we use is higher than what the foreign cable are designed to carry while the local cables we produce is designed to be capable of carrying the voltage we generate.

It's like someone living in a duplex buying a small Tiger generator to power the whole house instead of buying a bigger Gen set with a bigger capacity. Someone in a face me I burst your head will be better off with that tiger gen instead.

Or like a family of 5 boarding one keke napep instead of hiring a taxi or a bus.

Or like a plus size person buying an XL clothe.

Simply put foreign cables are not designed for our voltage capacity.

blowjohn:
Ur the type to give too many examples.
Na una dey ask for extr sheet for exam Hall datyear

olawale2020:
Nigeria cable is the best,but that was then,Nigeria cable in Ibadan and Lagos nko, are they still well functioning

swagifted:
any company producing CAT6 cables in nigeria yet?

ezebunafo:
yes coleman wires and cables,both lan,coaxial,submarine,mv and hv cat 5,etc

sms4sure:
Seriously, Nigeria Cable is the best.