NERC Approves N21bn for Procurement of Electricity Meters at Zero Cost to Nigerians – THISDAYLIVE

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* Ikeja, Abuja Discos get lion’s share of funds

Emmanuel Addeh in Abuja

The Nigerian Electricity Regulatory Commission (NERC) Friday announced the approval of N21 billion for the procurement of electricity meters for Band ‘A’ customers, explaining that the purchase and installation will come to end-users at no cost.

In an order signed by the commission’s Chairman, Sanusi Garba, and the Commissioner in charge of Legal, Licensing and Compliance, Dafe Akpeneye, NERC stated that the fund was the first tranche of the Presidential Metering Initiative (PMI) under the Meter Acquisition Fund (MAP).

NERC stated that although other regulations provided several options for metering of customers, but the interventions had not resulted in the closure of the national metering gap which currently stands in excess of 7 million customers.

It identified the inability of distribution companies (Discos) to raise financing in the form of debt or additional equity…



Source: Thisday Newspaper