Federal Government Released Funds for Mass Metering

In an efforts to deepen mass metering and reduces estimated billings, the Federal Government has released funds for various power distributing companies in the country to embark on a nationwide mass metering.

Information available to Investors King indicated that some senior officials of power distribution firms met with the Central Bank of Nigeria on Tuesday and funds were released for them to ensure a nationwide metering.

While the amount released to them was not made public, the Federal Government past estimations showed between N269.38 billion and N497.13 billion is needed for the provision of six million free meters existing unmetered power users in the country.

Ernest Mupwaya, the Managing Director, Abuja Electricity Distribution Company, confirmed the release of the said funds in Abuja on Tuesday.

Commenting on the initiative, he said “The Federal Government, who has 40 per cent shareholding, have sourced sufficient funding to support Discos through a low-interest shareholder loan that will make it possible for Discos to receive sufficient meters to close the metering gap for good.”

He said over the years the AEDC had embarked on various initiatives that resulted in the metering of more than 300,000 customers in Abuja.

“Currently, with the ‘flag-off’ of this national free mass metre programme, AEDC will receive a total of 900,000 meters, at the cost of N23bn, which will be sufficient to meter all customers including replacement of defective meters,” Mupwaya said.

He added that between now and December 2021, AEDC would have installed over 101,000 meters at a cost of N6 billion without charging customers.