The Minister of Power, Works and Housing, Mr. Babatunde Fashola, yesterday disclosed that the eligible customer policy has started yielding fruits as Mainstream Energy Limited, an electricity distribution company (GenCo) has signed on five industrial customers.
“Information reaching me shows that five industrial customers are now benefitting from the policy and taking their power directly from a GENCO, who incidentally is our host today, Messrs Mainstream Energy Ltd,” the minister said.
Speaking of progress made by the current administration on its journey to incremental power towards steady and, finally, uninterrupted supply, Fashola said that eligible customer policy was designed to improve distribution side of electricity and facilitate better power supply to consumers who consumed up to 2 Megawatts and above.
The minister who spoke at the 29th Monthly Power Sector Operators meeting hosted by Mainstream Energy Solution Limited in Minna Niger State, added that the creation of the N701billion payment assurance guarantees GenCos had been enjoying increased receipt in revenue.
“Since its implementation in 2017, recovery of payments by GENCOs has increased from 20 per cent to 80 per cent, and power supply capacity has improved from 4,000MW to 7,000MW and there is an appetite by other players to participate,” he stated.
On measure being taken to strengthen the distribution of electricity, the minister said he has issued directives to the Nigerian Electricity Regulatory Commission (NERC) to work out and implement Competition Transition Charges as provided by law, to safeguard them from any losses.
“We will continue to monitor the impact of the policy and remain flexible to keep what works and change what does not; and I urge everybody to remain open-minded, adaptive and responsive,” he said.
The minister further submitted that the distribution companies (DisCos) remains the weakest in the power sector value chain.
“Those who know and who genuinely desire to solve problems in this industry do not need to be told that the most pressing challenge of the sector today lies at the distribution end.
“Amongst the challenges at this sector of the value chain, (and there are problems in gas, generation and transmission), the most urgent are distribution of available energy to consumers, and there is an unused energy in the region of 2,000 Megawatts in this category.
“The other, of course, is the supply of meters to consumers. These two issues of power distribution and supply of meters rank highest in the feedback from the stakeholders in the industry,” he stated.
He added that, “In order to address these challenges and find solutions to them, I issued policy guidelines and directives to appropriate institutions for them to act.
“It is in this context that I think it is fortuitous that Mainstream is our host today, because my remarks will focus on the review of progress we have made with some of our policies,” he said.
On the implementation of the meters assets provider (MAP) policy, Fashola said reports reaching him indicate that there was an embracement of the policy as entrepreneurs were showing interest and talking to banks to raise finance.
“Some DISCOs have signed up to the government-supported fund of N37billion and we will keep an eye on the progress of the initiative.
“Government’s intervention in this regard is part of its role of enabling to be effective. It does not relieve the DISCOs of their contractual obligation to provide meters.
“On the contrary it seeks to help them perform their contract,” he stated.
- Al-Makura Presents Staff Of Office To Ex-minister, Usman-Jibril
- FRSC Urges Students, Pupils, Corps Members To Exercise Discipline On Roads
- MTN Confirms EFCC Investigation Over Listing On NSE
- Deaths Averted As Petrol Tanker, Truck Collide On Lagos-Ibadan Expressway
- Tonto Dikeh Organises Walk Tour For Elimination Of Drug Abuse, Human Trafficking
Plantain: Remedy For Kidney, Bladder Problems
Research has shown that plantains are rich in vitamins and minerals that contribute to good health. It is famed to...
Aloe Vera For Hair Health, Wounds Healing, Others
Since ancient times, the aloe vera plant has been used around the world to treat a number of ailments. Ancient...
Russel Carrington Wilson
Russell Carrington Wilson is a 31 year old American football player for the Seattle Seahawks of the National Football League...
Every Woman Is A Queen – Mary Kanu
Mary Kanu is the brain behind the fast growing beauty home Mauchiqueen Beauty Planet. She speaks with MILLICENT AREBUN ONUOHA...
I Break Barriers To Succeed – Fatima
Fatima Yusuf Giwa from Akwanga local government area of Nasarawa State is the last child of her family. She was...
Internet Fraudsters Riding Roughshod On Nigerian Music’s Image
SAMUEL ABULUDE writes on Nigerian music, its charm, essence and need to rid it off internet fraudsters and bad image....
NEWS23 hours ago
MURIC Decries Handling Of Gen. Alkali’s Murder Case
COVER STORIES14 hours ago
‘Yahoo Boys’ Hide As EFCC Intensifies Crackdown On Fraudsters
NEWS23 hours ago
Akeredolu Wades Into Herdsmen, Monarch Clash
NEWS23 hours ago
Diaspora Enrolment Extends to the Unites States of America – NIMC
NEWS24 hours ago
Jubilation In Ekiti As Fayemi Wins At Supreme Court
ENTERTAINMENT16 hours ago
We Have No Proper Entertainment Arena In Nigeria – Eddie Madaki
OPINION17 hours ago
Making Child Birth Blessing, Not Curse
NEWS23 hours ago
FRSC, Police Synergies For National Security