Despite the efforts of several administrations, insufficient and volatile force remains one of the main disorders in Nigeria.
In this interview with Udeme Akpan, managing director of Lumos Nigeria, PejuAdebajo, who spoke on a wide variety of topics, advocates the large deployment of renewable energy, especially solar, to boost the nation’s economy after the coronavirus pandemic.
In your opinion, how has the Nigerian economy devastated the coronavirus pandemic?
There were some global conditions that were happening at the same time, one of which was the fitness pandemic, the coronavirus, and on the other hand, the oil shock, which led to a loss of source of income for Nigeria, resulting in an adjustment of the national budget.
Many of our trading partners around the world are also suffering the effects of this fitness impact, and economies around the world face the prospect of a recession and a decline in GDP.Nigeria is no exception.
Sectors such as aviation, production and hospitality have been severely affected and even places of worship such as churches and mosques.Some, such as food and health care, thrive.Restrictions and social distance have disproportionately affected many small or micro-enterprises, while some organizations are firing staff, without paying or receiving better wages.
What can stakeholders, especially the feds and investors, do to revive the economy after the pandemic?
The federal government has done much and I applaud these efforts because, despite declining revenues, the government has continued to make several interventions to manage the existing economic situation.
For example, the CBN fund with reduced interest rates for companies, the NIRSAL service for small businesses, a fitness fund and invoices to others in the social register.Above all, the Economic Sustainability Plan (PES), which adds the plan to introduce five million home solar systems for twenty-five million more people.This is very commendable and an opportunity for the renewable energy industry.
What role do you think the good and solid enough force will play in this direction?
We all know that strength is essential for the maximum power of our operations. Energy and shipping account for between 40 and 70% of companies’ operating expenses. Many established organizations have optional force resources for the grid (usually turbines) and, blocking, have had to run turbines for long hours, with related loading implications, making the desire for reliable force more urgent.Due to social estating, the desire for generation becomes very essential and generation depends on solid strength.
Energy is also very important for small businesses such as welders, hairdressers, barbers, tailors and others.Pre-COVID MSMEs made up about 90% of the workforce and 80% of the economy.So the ability to get MSMEs that are out of the net, or have no normal strength, is our number one priority in Lumos.Having a solid strength in oneself is a very important desire that will have to be fulfilled.
In other words, are you saying that your company and other industry players have been very busy even with closure and that you are ready to do more to move forward, in terms of offering renewable energy to Nigerians?
We’re in a position to do more. We thank the government for addressing the challenge of the electricity sector head-on, we need to fix the grid, and it may take a lot of cash and it may only take a few years later.The government recognizes that with the decline in the charge of renewable energy, it has the maximum effectiveness and effectiveness to deploy.
Renewable energy can be deployed in spaces that are too remote and simply successful for the grid, therefore, either in regions where the grid is unreliable or where there is no grid, renewable energy and especially solar energy, given the amount of sun we have.in Nigeria, it makes the most of economic sense.
Every crisis brings opportunities; the pandemic an opportunity for the sun industry.And we’re ready. Lumos is already the market leader in the industry with more than 100,000 active services in all states of the country.
We have more than 700 installers and more than 60 mini-warehouses strategically located throughout the country, so we are probably the only renewable energy company that has a national presence with a giant active installed base.We’re in a position to do even more, to make sure the government achieves the purpose of empowering everyone.
Can you tell us a little more about the exclusive products you offer?
Our formula is very simple, it is composed of a panel, whether you place it on the ceiling or anywhere you can sunbathe and an indoor unit that has a battery, which converts and distributes the energy of the sun.Connect your gadgets to the indoor unit and you get light.
When we arrived at the market five years ago, we first only had one product called “Lumos Classic”.We recently launched two other products, “Lumos Eco” and “Lumos Prime”.
The ECO has an output of 70W DC and 60W AC, while the Prime has an output of 100W DC and 85W AC.These products can force energy efficient appliances like fan, TV, radio, soft bulbs, computer for your fundamental comfort.
To buy a formula, pay at any Lumos store or Jumia.com and the formula will be delivered to your home.In 24 hours, an installer will install the formula, so in just 24 hours you will have access to reli power.very simple. It’s also incredibly easy to use.
Another peculiarity of Lumos is that we are offering a very convenient and user-friendly payment plan, our consumers do not have to go through the stress of putting a lot of money, because with Lumos you can pay in 48 months, that is., 4 years.
To gain readers’ advantages, can you tell them more about the environmental benefits of solar energy?
There is a growing promotion of more climate-friendly tactics to produce energy.Of all other energy resources, solar energy has the least negative effect on the environment.
We are witnessing a revolution of the sun in the very near future, as we had the banking revolution and the telecommunications revolution, just as we have gone from a banking formula to next-generation banks, and from constant telephony to mobile phones, we will move it from the centralized grid to decentralized and distributed electricity formulas.
Rather than following the cycles other countries have gone through where they had fossil fuels before switching to renewable energy, Nigeria can jump ahead and move more to solar, which is profitable, blank and green. This is an opportunity for the government to push and this result.
We are grateful for the Economic Sustainability Plan recently presented through the Presidency to supply five million domestic solar systems to families and businesses.
This step is a popularity that this government understands that the simplest and fastest way to ensure that energy reaches each and every corner and crack of each and every corner of Nigeria is to deploy solar energy.
Is there any indication that with greater use of solar energy, Nigeria’s economy in rural areas would be stimulated, especially for small investors, restaurateurs, barbers and craftsmen on the periphery?
It’s very likely. Saving the implementation of small business solar force is a proven, smart and affordable way to force your business. For example, with Lumos, with only 5500 Naira consistent with the month, you can get solar force very temporarily in your facility and without delay save up to 70% on the operating load of your generator, get rid of the purchase of gasoline / diesel, maintenance / repairs, transport to gas station and voltage that we are going through.
Therefore, making solar energy reach each and every corner of each and every corner of Nigeria, which can be done very temporarily and economically, provides the rest of our people with a better quality of life.From a point of view, companies are more successful because less money is spent on generators.
This makes sense from so many points of view and making an investment in renewable energy is an urgent priority for the government. Lumos, as a market leader, is in a position to help the government make solar power more common in Nigeria.
Which partnerships do you plan to provide and strengthen more customers?
Our initial launch was with MTN, so locate Lumos at MTN’s top retail outlets across the country. Recently, in the fitness field, we partnered with All-on, an independent ghost agency, to supply home solar systems to Nigerian fitness services to combat the COVID-19 epidemic.These are examples of very successful partnerships.
With the All-on partnership, we deliver home solar systems to the fitness facilities of the Eti-Osa isolation center in Lagos, to the number one fitness centers in Oyo state.We have also worked with the Society for Family Health and others – government organizations to implement those systems in Nigeria.
We will continue to do more; We marry more payment service providers because we want our customers’ bills to be convenient throughout Nigeria for banking and non-bank people.We will continue to paint on those and other couples to gain advantages from our customers and Nigerians in general..
Lumos is a successful business for business partners, so we are looking for additional suppliers and installers to penetrate the market more and bring products closer to neighborhoods, especially in underserved spaces across the network.
I’m sure you know how complicated it is to do business in Africa, especially in Nigeria.Are there any disorders or disorders that the government would like the government to deal with to make solar activities in Nigeria more fluid?
Currently, key parts of our products are imported, for example, the other categories of solar panels and interior decorations draw in other grades of price lists and VAT.The government urgently wants to revise the tariff regime for these critical solar products to allow import and then stimulate the production of local panel meetings in the near future.
Second, we will have to take on the challenge of poverty in the country. In very rural communities, some other folks locate 5,500 naira consistent with month unable. We would like the government to put in position incentives that take merit of the conditional money move program to allow those families to sun energy.
The third is education. It’s a new industry in Nigeria.The government can establish awareness programs to tell citizens that there is no need to disturb neighbors with the noise of a generator and that there are alternatives.
I think the government is doing well, especially with the initiatives of five million solar houses, but of course we’re asking for more to make sure solar energy is nevertheless affordable and available.
Finally, the industry must have access to a single-digit interest rate intervention budget to make continuous investment a reality.
Do you have any recommendations for stakeholders, their clients, the government and other actors in the economy?
The government is already doing well and we need it to continue.For our current visitors, we must assure them that we know and perceive what Nigerians are going through, and we will continue to manufacture our products and provide the right visitor service.
We also guarantee that Lumos will accompany you on your adventure to a better way of life and help you manage your costs.Solar is here to stay and Lumos will be an integral component of working with the government, industry and all our commercial components to make some electrical energy for everyone.
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