Nigeria's private-controlled electricity meter giant Momas System Limited is analyzing future cooperation opportunities with Chinese companies, the company's chief executive officer (CEO) Kola Balogun said on Friday.
There are opportunities for cooperation in practically all sectors in which Momas System Limited operates, and Momas already has ongoing agreements with Chinese companies in several fields, Balogun said in an interview with Xinhua in Lagos, the country's commercial hub.
"We are partnering with Hexing Electrical Co., Ltd, one of the leading manufacturers and solution providers in smart metering products and systems in the World, that is based in Zhejiang, China, and they have been very supportive to us," he said.
A smart meter is usually an electrical meter that records consumption of electric energy in intervals of an hour or less and communicates that information at least daily back to the utility for monitoring and billing purposes. "We have been in mutual agreement with the Chinese firm for long and all the prototypes we are using today, are made by Hexing," he added.
The company chief said their Chinese counterpart is giving his organization the necessary advise to meet the global requirement. "We told them what we can do and what we wanted and they helped us to test the integrity of our designs so as to get the necessary certification, which we now have," he added.
Nigeria can now produce meters without importing, the company chief said, adding that his organization will continue to analyze other future cooperation opportunities with Chinese companies. "I will be in China by next week so as to discuss future cooperation and most like sign a Memorandum of Understanding (MoU), Balogun said.
He told Xinhua that the organization has invested a lot in research and training of its workers in China, by sending to acquire the technical know how and the Chinese manufacturing culture.
"No doubt, China has a culture and that is discipline," he said.
"Hexing had been training our people on how to go about manufacturing, we do not want any mistake, because these are sensitive technology and this will be first of it kind here in Nigeria," he added.
Momas is seeking international partners following the completion of its over 18 million U.S dollars meter manufacturing factory in southwest Nigeria's Ogun State, the company needs to expand its structure, Balogun told Xinhua.
"The factory will be ready for operation by September ending and our plan is to ensure that Momas will be able to service Africa, especially West Africa, because all the meter products that they need is now closer to them," he added.
"We can now synergies with our Chinese partners to ensure that all what is required within the Africa domain are provided for them," he said.
Balogun told Xinhua that Momas will increase its investment budget to around 50 million dollar in coming years. "We have so far invested more than 18 million dollars and as you can see the amount will most likely increase to 50 million with the plan's review, which is already undergoing, because, its a continuous business," he added.
According to him, the company is seeking partners from both China and abroad to meet the demand, noting that the metering gap in Nigeria is estimated around 2 million, which is enough for us to keep producing.
Founded in 1995 and headquartered in Lagos, Nigeria's commercial hub, Momas pioneered the system integration on local area network in prepayment metering for major cities in Nigeria.
In 2011, the company's ECMI smart metering application was STS certified in South Africa and was the first fully African indigenous smart metering manufacturer with STS certified management system in Nigeria West Africa.