Improved power supply ’ll boost Nigerian economy, says US envoy
The US Ambassador to Nigeria, Mr. Stuart Symington,has advised the Federal Government to improve power supply to serve as tonic for revitalizing the economy.
According to Symington, who disclosed this during his visit to the Head Office of Mantrac Nigeria Limited, Ikeja, Lagos, as part of efforts at supporting American and other firms with dealership in US-made products, Nigerians are hardworking and enterprising. “I’m confident that with more concerted efforts, the country will overcome her challenges through improved power supply,” he stated.
Caterpillar, a US company, manufactures a wide range of power systems and earth moving equipment among other products.
Symington disclosed that the aim of his was to understand the operations of companies like Mantrac and to seek ways of providing opportunities to enable them boost the Nigerian economy.
The envoy, who described Caterpillar and Mantrac partnership in Nigeria as “investment at the highest level,” was shown Mantrac’s range of operations via a slide presentation by its Managing Director, Mr. Edmund Martin-Lawson, who told him that the company, the sole dealer of Caterpillar products in Nigeria, had set a vision for Caterpillar dealership globally. He said that, although the Nigerian economy is going through tough times, it still remains a large market, an “excellent investment destination” and a huge opportunity for the Mantrac group. He said the company had provided the country’s power needs through the supply of high-tech systems to critical sectors like the telecom, marine, manufacturing, oil and gas among others.
He said that between 70 and 80 per cent of Caterpillar generating sets sold by Mantrac were manufactured/assembled in Nigeria.
Ambassador Symington expressed happiness with the company’s performance report and its large number of Nigerian work force, and described the company as “truly Nigerian.”
He tasked its management and staff to sustain the culture of excellence for which Caterpillar was known. He said that over the years, Caterpillar’s involvement in Nigeria had yielded “convincing rewards.”
He maintained that Mantrac had a big role to play in lifting Nigeria and Africa. “If Nigeria and Africa do well, the world will do well; if Nigeria and Africa fail to do well, the world will not do well,” he stated.