Gloryland IM Limited, the sole representatives of Dyode Limited, said it plans to set up a N500million factory that will be producing LED lamps in Nigeria. The lamps are currently being produced outside the country.
An LED lamp (or LED light bulb) is defined as a solid-state lamp that uses light-emitting diodes (LEDs) as the source of light. Such lamps also offer long service life and high energy efficiency, but are usually more expensive than the fluorescent and incandescent lamps in use in Nigeria.
The Chairman of the company, Mazi Sam Ohuabunwa, at an interactive session with journalists in Lagos recently, said the factory which is expected to be completed within two years, between 2013 and 2015 will also create about 450 new jobs.
He said, “The N500million is only for the first phase of the factory, and it will employ about 450 technical staff, which will be increased to 1,000 within one year of becoming operational. When it resumes manufacturing fully, we will need about 5,000 direct workers and this will lead to a multiplier effect in terms of suppliers and other services required.” He added that some of the components for the lamps can be sourced locally.
Ohuabunwa further disclosed that the factory will be located between Lagos and Ogun states, adding that the management was currently in the process of delineating the market before the factory takes off.