A new electricity regulation that would improve meter supply for consumers nationwide would begin to function next month, Minister of Power, Works and Housing, Babatunde Fashola, has said.
The minister said that the regulation, which would oversee meter service providers, would open up the market to more players in the meter supply chain, strengthen local meter suppliers and bridge the country’s metering gaps.
“It would enable other businesses that are not distribution companies (DISCOs) to supply meters. The core business of the DISCOs is not meter supply, their core business is distributing power but it needs meters to do so.
“Those who specialise in manufacturing, supplying and installation of meter would now go into that business subject to licence by NERC (Nigerian Electricity Regulation Commission) ,” Fashola said.
“We are trying to develop plans on how to put all of that 6,000 megawatts in the grid because currently we can only put 4,225 megawatts on the grid,” Fashola said.
Fashola also noted that with the proper partnerships, the private sector could provide “unthinkable” opportunities in the economy, if government focuses on policies, regulations and enabling private sector to perform better.
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