Mobile solar revolution will transform Nigeria’s small-business economy, Lumos Nigeria Chief Executive Officer Mr. Yuri Tsitrinbaum has said.
He said access to power is a major constraint to the Small and Medium Enterprises (SMEs), and many are using the Lumos Mobile Electricity service, which provides customers with reliable, clean, affordable solar electricity.
Speaking with The Nation, Tsitrinbaum said he believed that the availability of solar solutions would play essential role in efforts to bridge the electricity supply gap. According to him, businesses without access to the grid find alternative electricity sources expensive, unreliable and dirty. “Many are now discovering that the clean energy wave sweeping across Africa can transform their fortunes,” he said.
According to Tsitrinbaum, a recent survey revealed that 61 per cent of SMEs in Nigeria spend between N500 to N1,000 per day on fuel, while as many as 85 per cent of micro and small businesses rely on generators for supply of electricity. He, however, said with the Mobile Electricity service, costs are as low as N150 per day, or just N4,500 per month.
Tsitrinbaum pointed out: “We are witnessing a power revolution in Nigeria. Our everyday lives demand more access to electricity, and we need to meet that demand in order for businesses to grow. If we are to meet the true potential of the thriving business community here, access to power must follow the path of the mobile revolution.
”Lumos Mobile Electricity service, in partnership with MTN, is an alternative to noisy, polluting generators. Available at MTN stores nationwide, the Y’ello Box is providing a solution to millions of Nigerians who don’t have access to reliable electricity.”
He continued: “Lumos, which has attracted major investors into the Nigerian economy, has witnessed a rapid rise in the number of SMEs thriving, thanks to safe, reliable and affordable power from the Y’ello Box.
“SMEs have found the Mobile Electricity service attractive as they can benefit both from its affordability and reliability, doing away with fuel and maintenance costs. With the Y’ello box, SMEs can increase their trading hours, and their profits.”
On a visit to SMEs and health clinics using the Y’ello Box earlier this year, the United States (US) Ambassador to Nigeria Stuart Symington praised the service, noting that it would help Nigeria “fulfill its full economic potential”.
Lumos, Tsitrinbaum disclosed, is already providing clean and affordable solar power to more than 200,000 people, many of whom are business owners and households, noting that by the end of the year, Lumos aims to provide one million Nigerians with access to reliable, clean and affordable electricity.
“Lumos Global brings affordable, modern and clean electricity to communities that have been living off-grid. It connects the dots between the mobile payment revolution and solar energy through its patented, self-deployable solar power system, with integrated cellular payment and advanced security mechanisms.
“With Lumos, households in the off-grid world can replace generators, candles, and flashlights with modern electricity that can power lights, cellphones, fans, laptops, TVs and other small electronic devices, and all for less the cost spent today on generators – on a lease to own basis, subscription via the mobile phone.”