Mazi Sam Ohuabunwa
Dyode Limited, a United Kingdom-based company established by Nigerians in the diaspora will build a N500million factory between Lagos and Ogun States for the manufacture of energy-saving bulbs.
Chairman of Dyode Limited, Mr. Mike Adegun, told journalists in Lagos recently that the energy-saving bulbs, which were designed to suite the Nigerian environment, had received the approval of relevant regulatory authorities.
Adegun said the product was being marketed in Nigerian by Gloryland IM limited, which he is also the Managing Director.
“The people in Dyode Limited are Nigerian technical experts living in the diaspora. They are in the United Kingdom and they have developed the product and patented it all over the world. So, it is a Nigerian-designed product. It is the Nigerian challenge that made us to embark on the project,” he said.
Also speaking, the Chairman of Gloryland IM Limited, Mazi Sam Ohuabunwa, noted that targeting 6,000megawatts or 9,000megawatts of electricity should not be Nigeria’s major challenge but saving and optimising the available capacity.
“We came to support energy availability, not in terms of generating new capacity but in conserving and optimising the one we have. If we can save the one we have, and also optimise it, then solving the unending problem of generating additional capacity will become easier,” he said.
Ohuabunwa stated that the company would embark on the factory project as soon as there was enough market for the product in the country.
He said the major factor considered in the establishment of a factory was the availability of market.
“So, the first thing is that there should be a market for the product and that there is a demand to qualify the banks and equity shareholders to bring in money. Our desire to start by 2013 is based on the calculation that we have made. The companies have been formed and we have received approval from relevant government bodies, including the Standards Organisation of Nigeria (SON); Nigerian Electricity Regulatory Commission (NERC); Ministry of Power; Energy Commission and all the regulatory agencies,” he said.
He also stated that they were getting the product’s trademarks and proprietary rights, adding that the project would commence as soon as the country realised that it would be a viable opportunity.