Omatek MD Florence Seriki
This was revealed recently at an event in Lagos by the Managing Director, CEO, Omatek Ventures Plc, Engr, Florence Seriki who said that if many companies that are flourishing today, were to be waiting for regular power supply from the power companies, they would still, be waiting till today.
She said that Nigerians currently are positioned to help create more power by reducing their needless power consumption and power wastages, which will help deliver power to more areas and also boost more industrial operations.
“We must review our power consumption rate by 60 -80 per cent. You must be a power plant, producing electricity for others to use,” Seriki said.
According to her, Nigeria is endowed to take advantage of solar energy, through solar energy inverters that guarantee power supply round the clock. A device many other organisations have effectively adapted to, foreclosing the much talked about energy challenge.
Seriki said that lack of funds to support existing business organisations and high lending rates by financial institutions have remained a torn in the flesh of many business concerns in the country.
She said that through public private partnership (PPP) her company, Omatek Ventures, has expanded to energy saver solar power supply and installation, a device which guarantees uninterrupted power supply which many companies in the country have also keyed into to have an edge over others.
Banks, she said, are not supporting the growth of the economy through lending to business concerns at favourably low rates, and this has led to the collapse of many companies.
“If banks are supposed to support factories, it should be long term loans and single digit interest rates, she stressed.
According to her, lending by banks are usually short term and on high rates, saying that the debts are almost always recalled even before the machinery financed with the funds arrive the country, and this has in many cases frustrated existing companies to the point of closure.
