Olufemi Ashipa, the Vice President, Marketing, Lumos Nigeria, has last week unveiled a new power generating product of Lumos -an innovative mobile solar energy device which according to public review is best suited to provide electricity to meet the basic energy needs of Small and Medium Enterprise (SMEs) in Nigeria, where epileptic power supply has largely been the bane of small business development.
According to a report on Vanguard, Lumos Nigeria Vice President Olufemi did this unveiling during the just concluded SME Fair recently held in Lagos, following his talk, where he identified lack of electricity and lack of sufficient funding as two major challenges confronting development of any business in Nigeria. With the introduction of these energy devices, which according to reviews can efficiently power basic appliances in homes, offices, kiosks, small supermarkets, poultry farms, clinics etc, this is a private establishment –Lumos Nigeria –delivering where the government has failed and/or still failing the masses on their administrative power generation promises.
Why the need?
Nigerians, particularly entrepreneurs, cannot continue to wait on the government as it is obvious that the government has failed with distinction in this regards. And, if these enterprises must fare well, an alternative power source must be sought for. Over the years, power outage, as often experienced in most part of the country, has not only contributed to hike in prices of goods and services but also led to closure of many businesses that could have helped in boosting the economy.
Power supply had been erratic and unreliable that many businesses have resorted to purchasing private electric generators of various power capacities. From market structural review, it is well established that the poor state of power supply has militate against the performance of many of these enterprises causing the folding up of some and the relocation of many others to neighboring countries like Ghana and the republic of Benin. A critical analysis of the Nigerian market problem revealed that many so called challenges can be traced to poor power distribution. Therefore, Lumos’ emergence to rescue the situation –solving the power problem is indirectly solving a host of other problems that are mere organs around lack of steady power.
Is the Lumos Product affordable?
According to Olufemi, users are in full control of the device after making an initial base payment of N26, 000 to Lumos. It is then expected of users to subscribe monthly with a token of N4, 500 per month via an MTN line to enjoy an uninterrupted power supply without extra charges. However, this solar device remains the property of Lumos (in the meantime) until after five years when users must have successfully paid for the complete set-up. According to the Vice President, this is Lumos’ way of making the new product affordable. Going by this calculation, users will pay a net sum of N296, 000 at the end of 5 years which is N4, 000 less against N300, 000 that must be paid to claim the device in one sweep.
Is it sustainable?
As much as it is too early to draw any reasonable conclusion, here, it suffice to note that solar energy is a clean energy which if well maintained can be a very good alternative power source. With a solar device, noise is eliminated and greenhouse gases (which currently threatens the world) no longer exist in the equation. On this product, it is even more encouraging with Lumos’ 100 percentage warranty spanning for 5 years. SMEs leveraging on the Lumos‘ solution can deliver better and increase productivity without fear or frustration from erratic power supply: as staying in control of one’s power usage means becoming a self-host regulator and distributor –a good way and cheap way for SMEs to say goodbye to inefficiency.