Economy

Nigeria loses N150bn to fake battery products, says expert

The Chief Executive Officer, Emilinks Nigeria Limited, Mr Solomon Nwadiogbu, has said Nigeria loses about N150bn every year to fake battery products.

Nwadiogbu disclosed this during a press briefing. He added that fake battery products often cause damage to cars in the nation.

According to him, Nigeria needs approximately five million batteries annually with an annual demand of 720, 000 vehicles.

He said, “In Nigeria, battery failure is one of the top problems among car owners. Nigeria needs about five million batteries every year, this includes solar, forklift, cranes, and other heavy-duty equipment.

“For a country with an annual demand of 720,000 vehicles, you would agree that this is a very big issue Nigerians are struggling with.”

Nwadiogbu said his company offers batteries with a five years life span and three years warranty.

He added, “The use of bad batteries will affect the engines of automobile vehicles. We foresee a serious threat because of the influx of substandard batteries into the country that is a threat to the economy.

“Because many people waste their hard-earned money to buy these products at an average cost of N30,000, and going by Nigeria’s annual battery demand of five million batteries, it means we are losing a whopping N150bn naira annually to fake automobile batteries.

“The Koreans and the Chinese have made Nigeria a dumping ground for fake batteries. This is a heavy colossal waste to our economy and mustn’t be tolerated anymore.

“As a company, we make it a matter of principle to positively impact and add value to our society. A simple Google search will reveal several campaigns in the past that we have launched to impact our industry as w ell as the Nigerian society at large.”

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