08 October 2015, Lagos – MAN Diesel & Turbo says Nigeria’s power sector has huge market potential following the privatisation of the sector.
The firm, which had been doing business in Nigeria for some years now without residing in the country, said its commitment to Nigeria had grown reasonably, hence its move to open a new sales office locally.
With Lagos being its base, the Chief Executive Officer, MAN Diesel & Turbo, Dr. Uwe Lauber, was quoted in a statement as saying, “We have been doing business in Nigeria for a long time. Now we are resident in one of Africa’s most economically powerful cities. By deepening our local footprint, we hope to further grow our business affiliations and strengthen our partnership with this country.”
The new Managing Director for Nigeria is Adedayo Olowoniyi, the firm said. He will be leading the Lagos office. Before taking on this new role, Olowoniyi was MAN’s Chief Financial Officer for the sub-Saharan region.
“We see tremendous market potential in Nigeria,” Olowoniyi said, adding that, “The privatisation of the local power market is driving investment and with only about 5.5 gigawatts installed today, there is a substantial need for additional decentralised generation capacity. The country’s overall economy is growing substantially and our products can help companies secure their energy supply without having to depend on the public grid.
With the new office, he considered the company to be well positioned for future endeavours in Nigeria and beyond, adding that, “Lagos is the country’s commercial capital, which is why we have chosen it as our first and main office.”
The German Consul General, Ingo Herbert, congratulated MAN Diesel & Turbo on the occasion of the foundation and opening of the company’s new Lagos office.
He said, “Out of the approximately 50.000 German companies, that are active on a global level, only about 1,000 are present in Africa so far. MAN Diesel & Turbo is one of them. While MAN’s trucks have been a familiar sight for many years, I am very pleased that people and companies in Nigeria now also have direct nationwide access to this company’s great high technology solutions in the field of energy generation.
“The Government and society of Nigeria are determined to tackle the current challenges in electricity supply and I am confident that MAN Nigeria Ltd. will make an important contribution here.”
MAN Diesel & Turbo is one of the world’s leading providers of large-bore diesel, gas and dual-fuel engines with a power output ranging from 450 kW to 87MW. The company also designs and manufactures gas turbines, steam turbines and compressors and offers complete power plant solutions.
MAN Diesel & Turbo has been doing business in Africa for over 50 years. During that time, over 3.2GW of generation capacity have been installed in 37 African countries.
“Our African history reaches back as far as 1951, when our first engines were installed in Mali and Senegal. Today, we operate from offices and service workshops in South-Africa, Senegal, Kenya, Angola and Namibia with a team of over 300 employees,” Lauber said.