Ezeobi: Substandard Wires, Cable Import, Undermining Efforts of Local Manufacturers

Kasim Sumaina in Abuja

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

Ezeobi, while speaking yesterday, estimated that the annual market value of cables and wires in the country amounts to over N200 billion.

According to him, “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 N200 billion estimate.”

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

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

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

Despite these challenges, he said industrialists have continued to trudge on through strategic massive expansion and collaboration with the Nigerian government, expressing optimism that they would harness the 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,” Ezeobi added.

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

He added: “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, the realisation 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 a need for factory workers, administrative staff, sales and marketing team and an extensive network of distributors within and outside the country.

Noting that the future of cables and wires was bright, Ezeobi called on the Nigerian government to prioritise the empowerment of the electrical cable and wire industry in the country through supportive policies, infrastructure development, and access to financing to realise the potential of the industry as well as dominate African market and compete on a global scale.