The Federal Government has released funds to power distribution companies for the mass deployment of about six million free electricity meters to power consumers nationwide.
It was gathered that some senior officials of power distribution companies met with the Central Bank of Nigeria on Tuesday and funds were released for the purpose of mass metering in Nigeria.
The amount released was not made public. However , newsmen had exclusively reported on Monday that the Federal Government would spend between N269 . 38 bn and N497 . 13 bn for the provision of the six million free meters to various unmetered power users.
The Managing Director , Abuja Electricity Distribution Company, Ernest Mupwaya , confirmed the release of funds for the mass deployment of meters in Abuja on Tuesday .
Speaking at the inauguration of the free mass metering programme for power users served by the AEDC , Mupwaya said the initiative had been designed with sufficient resources to meter all customers.
He said , “ The Federal Government, who has 40 per cent shareholding, have sourced sufficient funding to support Discos through a low – interest shareholder loan that will make it possible for Discos to receive sufficient meters to close the metering gap for good . ”
He noted that over the years , the AEDC had embarked on various metering initiatives that resulted in the metering of over 300 ,000 customers.
“ Currently , with the ‘ flag – off ’ of this national free mass metre programme , AEDC will receive a total of 900 , 000 meters , at the cost of N23 bn , which will be sufficient to meter all customers including replacement of defective meters , ” Mupwaya said .
He stated that between now and December 2021 , AEDC had planned to install over 101 ,000 meters at a cost of N6 bn without charging customers.