The Lagos State Government has collaborated with Access Bank toward ensuring local solutions for affordable electricity meters for residents.
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The Lagos State Commissioner for Energy and Mineral Resources, Mr Olalere Odusote, said at the second day of the Lagos Smart Meter Hackathon event in Victoria Island that the state government was determined to provide adequate and affordable electricity supply to residents.
Odusote said that the Lagos Smart Meter Hackathon would help to facilitate the design and production of meters that would accelerate efforts toward achieving improvement in energy distribution, monitoring and prevention of revenue leakage.
He said that many talented innovators had applied for the Hackathon, while 10 submissions were shortlisted for the competition which had N7 million at stake for two winners in the categories of hardware and software.
The News Agency of Nigeria (NAN) reports that of 274 entries, five finalists were shortlisted for hardware category and five for software.
In the hardware category are Cosmo Automation, Smart Energy, Techwizard, Power Bit Cruchers and Gadozz Electricals, while the five software finalists are Vectorians, Zeena Platform, Magnitronics, Chosen Soft Tech and Gideon.
According to Odusote, the five hardware finalists have pitched their hardware impressively on Wednesday, Sept. 16.
”We are expecting no less from the software side. We are going to get engaged, look at what they have to offer and then integrate it into our future.
”We are trying to solve our own problems by ourselves. This is just the start, it is not a one-time project, after this event is over, we will take the product to our prototype mode, we will take the products to a commercial development process.
”So, we are not just doing Hackathon for the sake of it, we are looking for solutions that will make Lagos a 21st century economy at the end of the day,” the commissioner said.
He thanked Access Bank for the generosity of sponsorship and partnership with the state government, and other partners for joining in the journey of making Lagos a great state.
The Managing Director, Access Bank Group, Mr Herbert Wigwe said that having Hackathons and promoting innovations were part of the DNA of the bank.
Wigwe, who was represented by Mr Ade Bajomo, the Executive Director, Information Technology and Operations, Access Bank Plc. said that the bank was always searching for new things to solve real problems in Africa and beyond.
According to him, such solutions will actually move the life of people forward, give them opportunities, bring more people into becoming financial independent, hence, driving and enhancing the entire society.
”We are now in the fourth Industrial Revolution and we have Africans working with the rest of the world and using technology to solve our problems.
”So, we are not including the rest of the world, that is why this hackathon is important because it is our people solving our own problems and leveraging global solutions. We are finding our own answers to our own problems,” he said.
Over 60 per cent of Lagosians and Nigerians are estimated to be unmetered due to unavailability and the high cost of meter acquisition.
The Lagos State Government is therefore leveraging bright local talents to design and produce affordable smart electricity meters.