Emmanuel Addeh in Abuja
The intervention by the Central Bank of Nigeria (CBN) in the metering challenges in the power sector, has started to yield the needed results, it was learnt yesterday.
Last week, the Special Adviser to the President on Infrastructure, Mr. Ahmad Zakari, confirmed that the federal government was revving up its disbursement of a N120 billion capital expenditure (CAPEX) to improve infrastructure, especially to support the metering programme by the Distribution Companies (Discos).
It was gathered that a number of approvals had been made by the apex bank beginning from the last quarter of last year, with disbursements standing at N14.35 billion as at December 24, meant for the procurement of an additional 263,000 metering devices.
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Views: Visits 13 By Obas Esiedesa Stakeholders in the power sector have noted that the N120 billion investments by the Central Bank of Nigeria, CBN, would improve power supply across the country especially in distribution infrastructure. The apex bank had last week disclosed that it has disbursed about N3.6 billion for procurement of pre-pay meters to stabilise the billing system in electricity consumption in Nigeria as part of its N120.2 billion investments in distribution companies, DisCos, for infrastructure capital expenditure. With about 55.5 percent of Nigeria’s 8.3 million electricity customers still without meters, the CBN intervention was described by consumer group, Electricity Consumers Association, as a game changer.