Inq to Boost Nigeria’s Energy Sector, Save Cost with AI Solution

Emma Okonji

Inq, a global leading-edge solutions provider of innovative services in Edge Artificial Intelligence (AI) and Internet of Things (IoTs), is set to boost Nigeria’s energy sector with the launch AI solution.

The AI solution, which will enhance data analytics, will be used for predictive analytics in the entire process of energy generation, transmission and distribution, and it has the capacity to reduce wastages and revenue loss.

Designed to enhance operations in the energy sector, the AI-driven solution will also serve other African countries from Nigeria.

Speaking at a media roundtable in Lagos, the Executive Chairman at inq, Andile Ngeaba, said the company decided to launch the solution in Nigeria because Nigeria has become the largest economy in Africa in terms of GDP growth, with the largest distribution of fibre optic cables in Africa, which he said, would drive development faster than imagined.

According to him, inq Nigeria developed the unique AI-driven solution locally in Nigeria, specifically for the energy sector, which no other company has developed.  

He said the solution would serve the Nigerian energy sector and would be taken from Nigeria to other markets where inq operates.

Managing Director, inq Nigeria, Valentine Chime, said the Energy AI solution from inq, would address financial losses in the energy sector, which is incurred during electricity generation, transmission and distribution.

“The energy sector has suffered great financial losses because of its inability to use emerging technology like AI to analyse energy data. With our AI-driven solution, we are able to make the smart metres installed at base stations, at feeder pillars and homes of electricity consumers, to work better and smatter, using Internet of Things (IoTs) to produce real-time accurate energy readings and results. It identifies high energy usage areas and cut down on financial losses. Average financial loss in the Nigerian energy sector is about 40 per cent, but our solution is able to cut down on the loss and completely eradicate it,” Chime said.    

Addressing the issue of connectivity, the Group Chief Executive Officer at inq, Glad Dibetso, said inq would tap into the vast fibre optic cable distribution in Nigeria, to provide high speed internet connectivity in cities and remote areas of Nigeria.  According to him, ing is building connectivity infrastructure within the African continent, and all Fintech companies will be connected to its network to deliver innovative services to their customers.