True Nigerian Experience Interview with Chantelle Abdul.
1. For 34 years, Mojec International holdings have gone from
Power, Energy, Technology, Real Estates to mining. Kindly run us through your
trajectory from 1985 to 2019.
MOJEC Group of Companies is an international holdings
company headquartered in Lagos with operations in Power, oil and gas, Renewable
Energy, Smart Homes, Mining and the retail sector. Its Subsidiary, Mojec Meter
Company is the largest meter manufacturer in Nigeria.
Mojec international’s rich history is rooted in its
provision of key products and services to the consumers. Mojec has its roots in
FMCG (Fast Moving Consumers Goods), it began as a commodities company,
distributing and marketing Michelin tyres, through its partnership with the
French owned Michelin tyres; papers and foods to Nigerians, via its partnership
with NORSE paper and WAPCO respectively.
Mojec eventually became Michelin tyres’ leading Distributor
and was nominated Michelin Ambassador for West Africa in the year.
By the early 90’s the company had ventured into the Nigerian
Power sector and was the first to introduce prepaid meter technology to the
then NEPA (National Electric Power Authority) turned PHCN (POWER HOLDINGS
COMPANY OF NIGERIA), the nationalised government parastatal which had the
responsibility of generating,
transmitting and distributing power in Nigeria.
The biggest issue with the national utility was revenue
protection; its inability to collect payments on bills issued to customers. A
prepaid meter afforded them the opportunity to collect payments ahead of
consumption. At the time there was a 90% metering gap in the country as such
Nigerians were given estimated bills by the Utility which led to a distrust of
the utility by customers. Mojec took on the gigantic task of helping bridge the
metering gap in the country.
In 2010, MOJEC introduced smart Meters into the country and
by 2013 pre-privatisation of the power sector,…