The move followed the signing of a Memorandum of Understanding (MoU) by the parties in Lagos last week.
The agreement covers the sale and distribution of Schneider Electric’s low voltage products and distributionequipment in order to enhance access to these products to Nigerians and support local companies.
Under the terms of agreement, Mikano will sell and distribute Schneider Electric’s low voltage products such as circuit breakers, distribution boards, contractors, motor starters, control and signaling units as well as switches and sockets and a host of others, using its extensive geographical spread across Nigeria.
The Chairman, Mikano International, Mr.MofidKarameh, noted that the partnership is in line with the on-going transformation of the Nigerian power sector, and a window to position the company as a leading local partner to Schneider Electric.
He said, “As a forward thinking company, we are not unmindful of the emerging opportunities which the current transformation of the Nigerian power sector offers. The agreement will help us tap into this opportunity and strengthen our brand presence.”
The partnership will also enable Mikanoto grow its business portfolio and benefit from Schneider Electric’s products and solutions especially in the area of generator control panels and systems.
Also commenting, the Country President, Schneider,Mr. Marcel Hochet, said the agreement provides an opportunity for both companies to collaborate and leverage their strengths to improve local access to Schneider’s products.
He said the partnership also demonstrates Schneider Electric’s commitment to developing and supporting local companies.
According to him, “The agreement with Mikano will help our two companies deliver Schneider Electric’s quality power products to Nigerians, utilising Mikano’s geographical distribution spread across Nigeria. Access to our products means that Nigerians can enjoy the unique products and after sales service offered by Schneider.”
He added that the agreement further demonstrates Schneider’s readiness to support the development of local companies to enhance their operational capacity.
The French Minister for Foreign Trade, Ms.Nicole Bricq, who was also at the event, commended Schneider Electric for its investments in Nigeria, saying that the agreement is a proof of growing business relationship between France and Nigeria.
She called on other French companies to explore the investment opportunities in Nigeria, considering the country’s position as one of the biggest economies in Sub-Saharan Africa. She added that increased investments by French companies in Nigeria will enhance trade and bilateral relations between the two countries.
Information from Vanguard was used in this report.