A Review of the Nigerian Energy Industry

Compliance with rules, regulations our core value – Siemens Boss

Siemens 1Chuks Isiwu

29 December 2013, Sweetcrude, Lagos – Mr. Michael Lakota, Managing Director/Chief Executive Officer, Siemens Nigeria, says compliance with rules and regulations formed the core value of the company and its operations in Nigeria.

Lakota, who spoke in an interview with SweecrudeReports in Lagos, maintained that the company, for instance, would not compromise this value for for any reason.

“Nigeria is a gross market, that’s for sure. I think everybody knows this although we know that doing business in Nigeria is not easy and not always straight-forward. There are some boundaries and hurdles which one would need to overcome, not only from supplying companies but also from customers’ perspective, to speed up processes. There are however good opportunities.

“On the other hand, this is something which we have said very clearly: compliance (with rules and regulations), for us, is the most important thing. We will never do anything that is not transparent or which does not comply with our own very strict rules and regulations, and also not compliant with the Nigerian rules and laws, either the trade act or anti-corruption acts.

“That is something very important for Nigeria which we will never compromise for any revenue target or for any target you might have in mind. That’s our principle and a core value,” he said.

The managing director, who also spoke on efforts by Siemens to grow local Nigerian capacity, disclosed that the company recently signed an agreement with a Nigerian company, Mikano, for a partnership to build substations locally.

He said: This is a way we are contributing to growth in Nigeria – partnering. We want to increase capacity not on our side. We want to enable Nigerian companies and this is what we are going into – partnerships in various fields with Nigerian companies.

“That’s our priority, not to invest in bricks and walls. That’s not what we want to do. We want to invest in people and knowledge. And that’s why we are going the way of partnering with companies”.

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