The unveiling of Hexing Livoltek, an electricity meter manufacturing company in Lagos State, was recently presided over by the Minister of Power. Hexing specializes in producing prepaid meters, electrical installations, and solar products. The Minister praised the company for its investment in Nigeria, emphasizing the importance of developing local content in the power sector for job creation and sustainability.
The Minister stressed the significance of the meter factory launch in promoting local content, creating jobs, and reducing Nigeria’s reliance on imports. This move is expected to ease pressure on the national currency and improve the exchange rate. By prioritizing domestic production of essential energy components like meters, the government aims to drive industrial growth and enhance the sustainability of the power sector.
Furthermore, the Minister highlighted the challenges of relying on imports for power sector infrastructure components, leading to delays in fixing infrastructure issues. Encouraging the integration of more Nigerians into Hexing’s workforce, the Minister emphasized the importance of promoting local content.
The Chief Executive Officer of Hexing Group expressed confidence in the company’s expansion into Nigeria, viewing it as a significant milestone in advancing clean energy in the country. Hexing’s focus on innovation, localization, and partnership aims to deliver tailored solutions to meet Nigeria’s energy needs and unlock its potential for an energy revolution.