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FG approves N21bn for provision of free meters
By Kayode Sanni-Arewa
Federal Government has approved N21bn under the Presidential Metering Initiative to close the country’s metering gap by providing meters to unmetered power users at no cost.
That was announced in an order by the Nigerian Electricity Regulatory Commission on Friday with the number – NERC/2024/072, titled “Order on the Operationalisation of ‘Tranche A’ of the Meter Acquisition Fund”.
The commission stated that the deployment of funds under the Meter Acquisition Fund scheme would accelerate the deployment of meters and close the current metering gap.
It added that this would help in reducing commercial and collection losses to power distribution companies, enhancing the quality of service, and improving customer satisfaction.
“The funds accrued as of the April 2024 market settlement cycle and available for procurement of meters under the first tranche of the MAF scheme is in the sum of NGN21,864,851,725. The commission hereby approves the use of a sum of NGN21,000,000,000 apportioned pro rata to contribution by the Discos as Tranche A of the MAF scheme,” NERC stated in the new order.
It said the fund was broken down and allocated to each Disco for the purchase of end-use customer meters.
“All the meters to be procured and installed under the MAF framework shall be at no cost to the customers of the Discos,” the power sector regulator noted.
The commission further said, “This order shall become effective on June 13, 2024, and may be amended or revoked by subsequent orders issued by the Nigerian Electricity Regulatory Commission.”
In ia bid to ensure the metering of power consumers, NERC introduced the Meter Asset Provider Regulations 2018 and subsequently, the Meter Asset Provider and National Mass Metering Regulations in 2021.
The regulations provided several options for metering customers but the interventions, though significant, have not resulted in the closure of the national metering gap, which currently stands over seven million customers.
The inability of distribution companies to raise financing in the form of debt or additional equity has been identified as the major constraint in the acquisition and deployment of end-use meters and other capital investments.
The Meter Acquisition Fund scheme was, therefore, developed and approved by the commission, primarily to address the challenge of Disco credit worthiness inhibiting the deployment of end-use meters in NESI by creating a credible revenue stream from the market funds on the back of which long term financing may be secured by the utilities.
The funds, according to NERC, shall be under the management of the fund manager based on terms and conditions negotiated by the Discos and approved by the commission.
The Federal Government approved the Presidential Metering Initiative to close the metering gap in the NESI within three years, leveraging smart metering technologies for data analytics.
The commission also approved the deregulation of meter prices under the MAP scheme vide order NERC/2024/040 to ensure on efficient pricing of meters while responding more quickly to changes in macroeconomic parameters.
The order provided that all prices of meters under the MAP scheme should be determined through a transparent and competitive bidding process by eligible MAPs.
“A competitive bidding process was held on May 21, 2024, based on the provisions of Order NERC/2024/040, where a total of 24 MAPs participated across the 12 Discos. A total of 44 bids were submitted for 10-meter specifications.
“While the NESI is expected to leverage on the revenue stream under the MAF framework to raise substantial capital funding for metering, there is an imperative to accelerate a closure of the metering gap for all customers currently classified under tariff Band A for revenue protection and facilitating demand side management for the affected customers,” NERC stated.
News
At last, Tinubu sacks five ministers, makes seven fresh nomination
By Francesca Hangeior.
At last, president Bola Tinubu has reshuffle his cabinet appointing seven new ministers.
This development is coming few months after growing calls for the President to rejig his cabinet.
In a statement issued by the presidency after the federal executive council (FEC) meeting on Wednesday, president Tinubu re-assigned 10 ministers to new ministerial portfolios and appointed seven new ministers for Senate confirmation.
The president on Wednesday, during the Federal Executive Council (FEC), announced the sack of Uju-Ken Ohanenye as Minister of Women Affairs; Lola Ade-John as Minister of Tourism; Tahir Mamman as Minister of Education; Abdullahi Gwarzo as Minister of State, Housing and Urban Development; and Jamila Ibrahim as Minister of Youth Development.
Tinubu subsequently nominated Bianca Odumegu-Ojukwu as the Minister of State Foreign Affairs, while Nentawe Yilwatda as the Minister of Humanitarian Affairs and Poverty Reduction, officially bringing an end to the tenure of suspended Betta Edu.
The President also nominated Maigari Dingyadi as the Minister of Labour and Employment, Jumoke Oduwole as the Minister of Industry, Idi Maiha as Minister for the newly created Livestock Development Ministry, Yusuf Ata as the Minister of State, Housing and Urban Development, with Suwaiba Ahmad as Minister of State Education.
Earlier on Wednesday, the President scrapped the Ministry of Nigeria Delta Development and announced the Ministry of Regional Development as a replacement to oversee the activities of all the regional development commissions.
The regional development commissions to be under the supervision of the new Ministry are the Niger Delta Development Commission, the South East Development Commission, the North East Development and the North West Development Commission.
Tinubu also scrapped the Ministry of Sports Development and transferred its functions to the National Sports Commission to “develop a vibrant sports economy”.
The President further approved the merger of the Federal Ministry of Tourism and the Federal Ministry of Arts and Culture to become the Federal Ministry of Art, Culture, Tourism and the Creative Economy.
“The appointment of Shehu Dikko as Chairman of the National Sports
Commission.
“The appointment of Sunday Akin Dare as Special Adviser to the president on Public Communication and Orientation working from the ministry of Information and National Orientation,” the President said.
The President appreciated the outgoing members of the Federal Executive Council for their service to the nation while wishing them the best in their
future endeavours.
He then charged the newly appointed ministers as well as their reassigned colleagues to see their appointment as a call to serve the nation.
He added that all appointees must understand the administration’s eagerness and determination to set Nigeria on the path to irreversible growth and invest the best of their abilities into the actualisation of the government’s priorities.
It could be recalled that Tinubu, the All Progressives Congress (APC) chieftain, appointed 48 ministers in August 2023, three months after his inauguration.
The Senate immediately screened and confirmed the ministers. One of the ministers, Betta Edu, was suspended in January while another, Simon Lalong, moved to the Senate.
There have been growing calls for the President to reshuffle his cabinet as many Nigerians are not impressed by the performance of some of the ministers, especially in the face of unprecedented inflation, excruciating economic situation and rising insecurity.
In September, presidential spokesman Bayo Onanuga said the President would reshuffle his cabinet but didn’t give a time to the reorganisation.
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