As part of the efforts of investors to maximise the abundant opportunities in the privatisation of Nigeria’s power sector, Schneider Electric, the global specialist in energy management, and Mikano International Limited are partnering in the area of distribution of electricity installations, with the recent signing of a Memorandum of Understanding (MoU) in Lagos.
The MoU covers the sale and distribution of Schneider Electric’s low voltage products and equipments in electrical distribution in order to enhance the accessibility of these products to Nigerians and support local companies.
Under the terms of the agreement, Mikano will sell and distribute Schneider Electric’s world class low voltage products such as circuit breakers, distribution boards, contactors, motor starters, control and signaling units as well as switches and sockets among others using its extensive geographical spread across Nigeria.
The terms of the agreement also provide that Mikano will grow its business portfolio and benefit from Schneider Electric’s products and solutions, especially for its own needs in generator control panels and systems.
Speaking on the agreement, the Country President of Schneider Electric, Mr. Marcel Hochet, said the partnership was an opportunity for both companies to collaborate and leverage their strength to improve local access to his company’s products.
He said the agreement was also a demonstration of Schneider Electric’s commitment to develop and support local companies.
“The agreement with Mikano will help our two companies deliver Schneider Electric’s quality power products to Nigerians utilising Mikano’s geographical distribution spread across Nigeria. Access to our products means Nigerians can enjoy the unique products and after sales service offer by Schneider Electric. On the other hand, we have demonstrated our readiness to support the development of local companies to enhance their operational capacity,” he said.
Also commenting on the partnership, the Chairman of Mikano International, Mr. Mofid Karameh, said his company’s investment in electrical distribution through the partnership, was in line with the ongoing transformation of the Nigerian power sector.
According to him, the initiative was also a window to position his company as a leading local partner to Schneider Electric.
“As a forward thinking company, we are not unmindful of the emerging opportunities which the current transformation of the Nigerian power sector offers. The agreement will help us tap into this opportunity and strengthen our brand presence”, he said.
The French Minister for Foreign Trade, Nicole Bricq, who also witnessed the signing of the MoU during her working visit to Nigeria, commended Schneider Electric for its investment in Nigeria. She said the agreement was a proof of growing business relationship between France and Nigeria.
Bricq called on other French companies to explore investment opportunities in Nigeria considering the country’s position as one of the biggest economies in sub-Saharan Africa.
According to her, improved investment in Nigeria by French companies would enhance trade and bilateral relations between Nigeria and France.
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