The Federal Government’s industrialisation drive has received a major boost following the inauguration of a multi-billion naira Fibre-Optic Cable Factory by Coleman Wires and Cables at Arepo, Ogun State.
It was the first fibre-optic cable factory in the West African sub-region and the fifth on the continent.
The Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, said with the coming on stream of the fibre-optic cable factory, Nigeria’s journey to industrialisation was on course.
Represented by the Director, Industrial Development at the ministry, Mr. Adewale Bakare, the minister also said the company’s ‘drive to increase local production capacity was in line with the ministry’s Backward Integration Programme (BIP).
“It’s a comprehensive and strategic approach towards industrialisation with a view to promoting value-addition across the chain of the manufacturing process in line with the Nigerian Industrial Revolution Plan (NIRP),” Adebayo said.
The minister, who praised the company for its achievement, further stated that the factory was positioned for the African Continental Free Trade Area (AfCFTA).
Also, the United States’ Ambassador to Nigeria, Mary Beth Leonard, represented by the Commercial Attache, David Russell, noted that the impact of the factory would be seen everywhere, just as more jobs would be created for people of the state.
Ogun State Governor, Mr. Dapo Abiodun, said: We are the industrial capital of Nigeria. We are the first state to manufacture fibre-optic cable in Nigeria and West Africa. What we witnessed today is among the numerous achievements of the state.
“We have absolute confidence in the private sector. This is why we are committed to basic infrastructure and making enabling policies that allow such enterprises to thrive.’’
‘’”I have followed the growth of this company since inception and it is consistent growth and for becoming the leading cable manufacturing company in Nigeria and West Africa.
“I understand that Coleman will be constructing another factory that is 10 times bigger than the one.
‘’I was told they might require land from the state government.
“Let me assure you that you already have the approval. We are very happy that this is happening in Ogun State. I salute your doggedness because it is not easy to be an investor or manufacturer in Nigeria at this time.
“We are elated that we are part of this historical event.”
Earlier, the Managing Director/Chief Executive Officer of Coleman Technical Industries Limited, Mr. George Onafowokan, said: “I must admit that it has not been an easy task to maneuvre the processes of approval through our Board of Directors and our financial institutions, led by the Bank of Industry (BoI), which played a major role from the conceptualisation of this project to its commissioning that is being witnessed today.
“Let me reiterate that what is at play is the implicit confidence extended to the second generation that has taken micro-small business, Coleman Wires and Cables to the level it is today.’’
He expressed his gratitude to the commercial and technical team of the company, Corning Inc of United States, for the confidence and support for Coleman Wires and Cables and for believing in its vision on the project.
The Director, Fibre Business, EMEA, Corning Inc., Mr. Steve Candler, said the opening of the factory was timely, following the demand for high bandwidth communication network by fibre optic cables.
Candler said people had become more involved with the Internet for several purposes such as entertainment, communication, remote learning, e-commerce and streaming of high quality video content among others.
He said: “In order to manage, process, share and store all these data, users are making increasing use of the cloud to keep pace with the rate of change.
“All these developments are reliant on the presence of a resilient high capacity communications network that requires lots of fibre optic cables.
“So, the opening of this factory couldn’t have come at a better time and Corning Inc. is delighted to have been chosen as the supplier of optical fibre.”
The Managing Director of BoI, Olukayode Pitan, said the investment in the local manufacturing of fibre optic cables would provide over 2, 800 direct and indirect jobs.
Pitan, who was represented by the Executive Director, Large Enterprises, BoI, Mr. Simon Aranonu, said before BoI’s intervention, the company’s installed capacity was about 12, 000 metric tonnes per annum which provided about 500 jobs.
“With this expansion, the production capacity will increase to about 162, 000 metric tonnes per annum capable of providing 2,800 direct and indirect jobs.
“This project is also in line with the import substitution and economic diversification drive of the Federal Government, resulting in foreign exchange savings,” he said.
Pitan further stated that the factory was consistent with the Federal Government’s National Broadband Plan 2020-2025 which aimed to achieve 70 per cent broadband penetration and 90 per cent reach by 2025.