A trip to Nigeria: Possibilities in the Nigerian market for Finnish Renewable Energy SME's
In a column for Bloomberg View in November 2013, former Goldman Sachs economist Jim O'Neill had presented a new term ´´MINT´´, a name coined by stitching the initials of the countries that he believed to be the second generation of emerging market pace-setters: Mexico, Indonesia, Nigeria and Turkey. Having said that, Nigeria is not only recognized as the most populous country in Africa but also, potentially, the economic powerhouse of Africa due to the matrices related to the economy and the population. Despite the promising capacities, Nigeria is still lagging behind due to serious shortage of power: an estimated 60-70% of the Nigerian population does not have access to electricity. The energy sector in Nigeria totally relies on government subsidized fuel and funding of major energy plants and energy capital projects by the federal government, states and government agencies. Nigeria is endowed with vast oil and gas reserves and an abundance of renewable energy potentials. It is the conflicts in supply and demand in Nigerian power sector that open door to sustainable solutions from natural resources such as solar, wind, and biomass.
This pilot trip is a great opportunity for the Finnish companies to raise awareness of their solutions in the Nigerian market and also to meet and match with potential partners. Our local partners are organizing seminar/workshop in Lagos and Abakaliki, which are considered as the ´´food basket of southern Nigeria´´. The seminar participants are various stakeholders in the Renewable Energy value network, including high profile speakers.
Main activities of this pilot trip are networking and building up a model for collaboration/ partnership with the local associates. Finnish companies will have a chance to present their products and services at the seminar in the event and participate in the parallel sessions aimed at business/technology specific solutions (solar, biomass, or wind).
Highlights of pilot trip to Nigeria (4/5.3 – 13/14.3.2014):
- Two summits/workshops arranged and marketed (direct marketing supported by press, radio and web) jointly and through network (organisers, Chambers of Commerce, Finpro, Finico); one in Abakaliki (EBSU) and the other in Lagos (Sheraton) featuring high profile speakers (Former Minister of Power Federal Republic of Nigeria)
- Introduction the Finnish technologies and their values to potential local companies and other value network stakeholders
- Co-creation a sustainable network for business and collaboration opportunities.
- Analysis of the reality of Nigerian market potential through site visits, seminar, field meetings with decision makers, development companies, consultants, system integrators and potential client companies.
More information on the trip can be found here
More information about Connect project can be found here. Deadline for registration is 30.1.2014
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