© 2016 Javier Z / David Veg
Nigeria, Africa’s most populous country, has been the continent’s largest economy since it overtook South Africa in 2014, and its energy consumption reflects its status as one of the fastest developing countries in the world.
The country has long been touted as one of the nations with the largest growth potential in the world. With a large and young population that has already attained low-middle income designation, growth should be a given.
The problem is that, among Nigeria’s 173 million citizens, less than half have daily access to electricity. This may seem puzzling in light of the fact that Nigeria is home to vast reserves of oil, and is one of the largest petroleum exporters in the world. The reality is that outside of major metropolitan areas, many people are cut-off from the grid. And worse, even in major cities like Lagos, blackouts are at times a daily occurrence, choking the hours with which businesses can operate.
In an attempt to address these issues, Nigeria privatized parts of the electricity sector in 2013, opening the door for companies to address the issues that have lead to the dearth in electricity production and distribution. Experts say that Nigeria needs to generate 12,000 megawatts per hour, but currently generates only a quarter of that.
One company that has been working in the Nigerian power sector for years before the privatization is MOJEC International, a diversified holding company based in Lagos. While the company has holdings in a wide array of sectors, MOJEC, which was founded in 1985, made its name principally through metering, the process of measuring the energy usage of end-users of a utility. MOJEC is one of the largest meter suppliers in Nigeria today, manufacturing a range of products that can help both utilities and end-users save money and electricity in a market where conservation is a priority.
MOJEC is a leading contractor to the Nigerian power distribution companies and public utilities, providing the latest metering technology such as Maximum Demand, Whole Current, Pre-Paid meters, and Automatic Meter Reading Systems (AMR). Its latest and most innovative offering is Automatic Meter Infrastructure (AMI), which it offers via its sister company Mojec Meter Company, one of Nigeria's first meter factories. © 2016 Javier Z / David Veg
Smart metering systems allow utilities to monitor usage and route power distribution based on real time information. In many legacy metering schemes, utilities must send out a technician to physically read meters in order to determine energy usage and make predictions of usage trends. The arduous process provides fewer data points for utilities to make decisions with. Technology such as that provided by MOJEC has the potential to change lives if utilities are able to more efficiently harness their generation capacity to prevent blackouts.
MOJEC also has operations in the areas of real estate and retail. Notably, it creates modern mixed-use developments that aim to add density to the metropolitan cityscapes of the major Nigerian cities of Lagos, Ibadan, and Abuja. By building housing, jobs, and shopping in close proximity, MOJEC is helping to reduce the need for petroleum and reduce pollution creating, and roadway clogging congestion on highways.
With its excellence, innovation, and focus on sustainability, MOJEC International Limited is a holding company with a promising future. The company shows great potential, like its home country, and as it spreads into wider Western Africa and the continent as a whole, it will continue to develop both as a manager of a wide portfolio and an innovator of essential technologies.
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