News
Nigeria Losses N150bn To Fake Batteries Yearly — Expert
Mr. Solomon Chukwuemeka Nwadiogbu, the Chief Executive Officer of Emilinks Limited, a Lagos-based importer of automobile batteries, has regretted the annual loss of N150 billion due to bogus battery goods causing damage to many cars in Nigeria.
He expressed his displeasure with the colossal damage fake batteries have caused the economy over the years in a chat with Journalists over the weekend, and offered a solution to the problem, saying his company was willing to offer Nigerians batteries with a five-year life span and a three-year warranty.
“Battery failure is one of the most common difficulties among car owners in Nigeria. Every year, Nigeria requires approximately five million batteries for solar, forklift, cranes, and other heavy-duty equipment. You’d agree that, in a country with an annual need of 720,000 vehicles, this is a major problem that Nigerians are dealing with.
“The usage of faulty batteries will have an impact on automobile engines. We see a serious threat from the influx of substandard batteries into the country, which 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 based on Nigeria’s annual battery demand of five million batteries, that means we’re losing a whopping N150 billion naira annually to fake automobile batteries,” he said.
Nwadiogbu, who specializes in the importation of European electronics and other goods, said his company had imported high-quality batteries with a three-year warranty, but expressed sadness that some countries were using Nigeria as a dumping ground.
“The Koreans and Chinese have turned Nigeria into a dump for fake batteries.” This is a tremendous waste of our economy that can no longer be permitted,” he complained.
