MicCom lists FX pain, electricity as major hurdles facing Cable Manufacturers (businessday.ng)

MicCom lists FX pain, electricity  as major hurdles facing Cable Manufacturers

The MicCom chief described the situation as frustrating.

From huge taxes to exorbitant import duties on raw materials, cable manufacturers have often decried the bottlenecks faced in the importation of raw materials as these erode the bottom line.

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Adubi emphasized the role of various categories of cables in the development of the energy value chain.

You need virile sectors to forge reasonable partnerships in Africa, she quipped.

Commending the Federal Government through the Nigerian Content Development and Monitoring Board (NCDMB) for its efforts in ensuring patronage of locallymanufactured cables by the oil and gas industry, Adubi attested that the oil sector had shown significant growth of incountry value addition.

At the moment, local content is maximized in the oil and gas sector.

Thats a deliberate way the government can grow the subsector and make sure that we are internationally competitive because we do not have a vibrant source of raw materials, the MicCom boss noted.

She called for the legal framework and right fiscal environment to encourage investment in copper and aluminum mines incountry, noting that sourcing raw materials locally would help CAMAN member companies to reduce operational cost, increase their production capacity, their reserves, create jobs, and generate more foreign exchange earnings for Nigeria.

From very complex cable sets like umbilicals used in subsea operations to the building of FPSOs, and numerous fabrications and constructions, you cant rule out cables.

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