FG announces partnership for installation of over 1 million metres

• The national authorities of Nigeria has contracts with companies to supply and instal 1,437,500 astute meters nationwide
• These companies see Ningbo Sanxing Smart Electric, Messrs. XJ Group, Ningbo Sanxing Medical and Electric
• According to the Transmission Company of Nigeria, the task is simply a captious measurement successful closing the metre spread successful Nigeria

Legit.ng writer Zainab Iwayemi has implicit 3-year-experience covering the Economy, Technology, and Capital Market.

The national authorities has agreements with companies to supply and instal 1,437,500 astute meters passim Nigeria done the Bureau of Public Enterprises (BPE) and vigor organisation companies (DisCos).

For the intent of purchasing prepaid vigor meters, the national authorities and the states person raised N100 billion. Photo Credit: FG, Contributor
Source: Getty Images

The Punch reported that among these companies are Messrs XJ Group Corporation, Ningbo Sanxing Medical and Electric Company Limited, and Ningbo Sanxing Smart Electric Company Limited.

The Transmission Company of Nigeria (TCN) said successful a connection connected Friday that the signing ceremonial was held astatine the BPE office successful Abuja.

“The task is portion of the Distribution Sector Recovery Programme (DISREP), funded by the World Bank’s $500 cardinal installation done the Investment Project Finance (IPF) arrangement,” TCN said.

Ajiboye Oluwagbenga, enforcement manager of transmission work provider, connected behalf of Sule Abdulaziz, main enforcement serviceman (CEO) of TCN, characterized the task arsenic a captious measurement successful closing the 7.1 cardinal metre spread successful Nigeria.

Additionally, the national authorities and the states person raised N100 cardinal for the acquisition of prepaid vigor meters, according to a connection made by Minister of Power Adebayo Adelabu connected August 27.

NERC gives deadline to update metre

The Nigerian Electricity Regulatory Commission (NERC) earlier again reminded Nigerians to update their meters earlier the deadline of November 2024.

The Commission released the connection done its authoritative X relationship connected Tuesday, August 8, 2024, urging energy consumers to instrumentality enactment earlier the deadline.

The committee warned that aft the deadline, consumers who neglect to upgrade whitethorn not beryllium capable to recharge their electricity.

"Have you updated your Meter yet? From November 2024, you whitethorn not beryllium capable to recharge your metre without updating. However, updating is casual and free.

FG introduces 10-year repayment program for prepaid meters

Legit.ng reported that the curate of power, Adebayo Adelabu, has explained that energy consumers who person escaped prepaid meters volition have a repayment play of up to 10 years.

This clarification contrasts with earlier claims suggesting that customers who acquisition meters would beryllium reimbursed done energy credits.

During a caller code successful Ibadan, the curate acknowledged that the rising outgo of meters has posed a important challenge.

Source: Legit.ng