Group Chairman, Omatek, Timothy Farinre, has stated that power and energy remains a sleeping giant as it continues to contend with series of challenges leading to under capacity utilization in the country.
This was made known at the first Annual General Meeting (AGM) held recently in Lagos.
According to him, “Power and energy remains the problematic area of the Nigeria economy as the epileptic supply of electricity is having negative consequences on cost of production across industries”.
He said growth in the information, communication and technology sector remained robust coupled with good performance in the communications, wholesale and retail industries, while adding that the company still made profit before tax of N364.9million and profit after tax of N314.4million.
He added “In the coming year our operations are expected to grow irrespective of the economic meltdown, the governance of the day is implementing its 7 point agenda even as the company’s aggressiveness on marketing will also increase our market share. As the new era begins we are poised to for greater level of achievement in the industry for years to come”.
The group Managing Director, Omatek, Florence Seriki, said, in its drive to provide effective, environmentally and cost conscious solar powered street lights, Omatek in association with its foreign technical partner, Kehua, has designed solar panels suitable for extreme weather conditions, capable of producing energy even on cloudy days and able to withstand vandalism and attempts at theft.
According to her, “Based on its survey and study in some states where solar powered street lighting have previously been deployed with their exhibited poor light performance, we have come up with solutions that will resolve the present poor light performance from the solar powered street lights”.
She added that “with the LED bulbs which generates less heat and last 6-10 times longer than incandescent bulbs with an approximately 7-10 year life span and consumes 80-90% less energy. Our solutions combine the benefits of the solar system and those of LED technology to proffer solutions that reduce energy consumption considerably thus saving costs by 60-85% whilst providing 24 hours lighting solution”.
Seriki said a new scheme was introduced called the “e-Xpress scheme” designed to ensure easy access to computer systems and other Omatek products without the challenge of affordability.
She added that the company has developed this scheme to encompass the new company structure by initiative mark to increase the turnover and to create more brand awareness.
The Omatek e-Xpress initiative is a flexible scheme which enables beneficiaries to pay for any computer of their choice through a structured re-payment plan.
She expressed that the Omatek e-Xpress initiative affords Nigerians, including civil servant, students, lecturers and professionals the opportunity to own a computers of their own through a flexible and convenient payment plan which spans between 12-24 months.
Under the scheme, she said, beneficiaries would acquire computers and pay over an extended period of time through a lease arrangement that requires an undertaking dully executed in favour of Omatek/Banker by supervisory officers of the organisation/ institution and state governments as the case maybe, to ensure monthly deduction from source from beneficiaries’ salaries.
This initiative she noted has been launched in 4 states while most of the states in the south are covered with only 3 yet to be formally launched including six states in the north.