Nigerian government approves N39bn loan for supply of electricity Meters

In order to boost the power supply and accurate bill allocation system, the federal government of Nigeria has decided to approved N39 billion loan to Electricity Distribution Companies (DISCOs) for the supply of meters. However, Minister of Power, Works and Housing, Babatunde Fashola disclosed this recently.

Reports confirmed that the minister made the disclosure on Monday in Kano at the 18th Monthly Power Sector Stakeholders Meeting hosted by Kano Electricity Distribution Company (KEDCO). He said the gesture was part of power sector recovery programme of the government which aimed at ensuring uninterrupted power generation and distribution.

Fashola further explained that the loan investment is to ensure that every electricity user gets a metre to regulate the power utilized:
“It is also aimed at ending the series of complaints by consumers who applied for meter but were not supplied at the appropriate time.”

In addition, the minister explained that the successful implementation of the power sector recovery programme would assist in resolving the conflict between distributors and consumers over tariff collection. He said that this act has been put to place due to the reports gotten from Nigerians on high charges on electricity bill.

Many Nigerians have confirmed that power supply has increased compared to the previous years experiences. In line with this, Fashola also confirmed that power generation has improved tremendously in 2017 to 6, 863 megawatts compared to 2016. However, he linked the success to government’s efforts to end rampant vandalism of gas pipelines:

“With this development, we have also noticed increase in the distribution of electricity to consumers across the country.’’

Further more, he said that government had embarked on several projects to expand transmission capacity and distribution of power in the country. Nigerians are waiting for the expansion has this will in effect help many businesses to grow in the country.

The Chief Operating Officer of KEDCO, Raul Zing in his remarks at the meeting said the company had spent over N200 million for the construction of power sub-station at Dakata, in Nasarawa Local Government Area. Also, he confirmed that the sub-station, which was commissioned by the Minister, would create 100 small scale industries and supply electricity to over 10,000 houses in the area.

Reports have confirmed that the minister of power, Babatunde Fashola has done a great deal to boost the power sector of the country. Although, many Nigerians are hoping that the power supply will get better as it is their main pole for business transactions.