62.63% electricity consumers on estimated billing, says NERC
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The Nigerian Electricity Regulatory Commission (NERC) on Friday said 62.63 per cent of electricity consumers in the country were on estimated billing as at September 2020.
NERC stated this in the 2019 to Quarter 3, 2020 Nigerian Electricity Supply Industry (NESI) Key Financial and Operational Data, obtained from its website by the News Agency of Nigeria (NAN) in Lagos.
The document showed that only Eko Electricity Distribution Company and Ikeja Electric Plc had metered over 50 per cent of their customers as at the review period.
The huge metering gap for electricity customers, according to NERC, remains a key challenge in the industry.
TODAY
February 5, 2021
The Nigerian Electricity Regulatory Commission (NERC) on Friday said 62.63 per cent of electricity consumers in the country were on estimated billing as at September 2020.
NERC stated this in the 2019 to Quarter 3, 2020 Nigerian Electricity Supply Industry (NESI) Key Financial and Operational Data, obtained from its website by newsmen in Lagos.
The document showed that only Eko Electricity Distribution Company and Ikeja Electric Plc had metered over 50 per cent of their customers as at the review period.
The huge metering gap for electricity customers, according to NERC, remains a key challenge in the industry.
The data showed that out of the 11,841,819 registered electricity customers as at the end of the third quarter of 2020, only 4,425, 628 (37.37 per cent) have been metered.
The communique was issued at the end of the apex bank’s Monetary Policy Committee (MPC) meeting for January which began on Tuesday in Abuja.
Emefiele added that the CBN also allocated huge sums of money to mitigate the adverse effects of COVID-19.
“Of the CBN’s real sector interventions, under the ABP, N554.63 billion was disbursed to 2,849,490 beneficiaries in 2015, of which N61.02 billion was allocated to 359,370 dry season farmers.
“In the light of the on-going synchronised efforts by the monetary and fiscal authorities to mitigate the impact of the COVID-19 pandemic, the bank has committed substantial amounts of money towards this objective.
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A total of 2, 849,490 farmers were given N554.61 billion to enhance food security under Central Bank of Nigeria’s Anchor Borrowers Programme (ABP) beginning from 2015, the bank has said.
CBN in a statement at the end of the apex bank s Monetary Policy Committee (MPC) meeting for January which began in Abuja on Tuesday, said its Governor Mr. Godwin Emefiele, who disclosed the figure, said that out of the amount N61.02 billion was loan to 353,370 dry season farmers.
The CBN, according to Emefiele, also allocated huge sums of money to mitigate the adverse effects of the COVID-19 pandemic on Nigerians.
This was disclosed during the Monetary Policy Committee meeting in Abuja on Tuesday.
According to the bank, under its Covid-19 Targeted Credit Facility(TCF), 426,106 households and small businesses have received N192.6 billion, while 27,956 farmers have also shared N106.96 billion through the Agri-Business Small and Medium Enterprises Investment Scheme (AGSMEIS).
CBN Governor, Godwin Emefiele made this disclosure while reading the communique from the Monetary Policy Committee meeting in Abuja on Tuesday.
He said, “Health Care Support Intervention Facility, N72.96 billion have been disbursed for 73 project that comprise 26 pharmaceutical projects and 47 Hospitals and Health Care Services Project in the country.”
To support the provision of employment opportunities for the Nigerian youth, Emefiele also said the Central Bank of Nigeria provided financial support through the Creative Industry Financing Initiative and Nigerian Youth Investment Fund amounting to N3.12 billion with