Connect with us


First phase of mass metering to cost N60b – FG



FEDERAL Government said Central Bank of Nigeria (CBN) was providing N60 billion for one million electricity meters that are meant for free distribution to unmetered power users across the country.

A document released today on some of the achievements of President Muhammadu Buhari in the last six years stated that the N60 billion was for first phase of its National Mass Metering Programme.
According to the docment, there has been a nationwide rollout of electricity meters to all on-grid consumers since August 2020.

“The CBN is providing N60bn for the first phase, with a target of one million meter installations. So far, more than 500,000 meters have been delivered to the Discos (distribution companies), and more than 280,000. World Bank and the CBN were fully providing funds for the estimated six million electricity meters required to close the metering gap in the Nigerian power sector. The programme is expected to generate an additional N7bn increase in tax revenues per annum and $10m in annual import substitution,” it stated.

Explaining further that federal government inaugurated Solar Power Naija programme in April, 202,1 to deliver five million off-grid solar connections to Nigerian households, it added in the document that in May 2021, the Rural Electrification Agency announced the planned deployment of solar-powered grids to 200 Primary Health Centres and 104 unity schools nationwide.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *