FG, MOJEC Partner To Close 8m Metering Gap

The federal government is partnering with MOJEC Group to close the eight million metering gap in the country.

To this end, the minister of Power, Chief Adebayo Adelabu, presented new options being considered by the federal government to achieve its mass metering initiatives based on the timeline it has set for the initiative.

One of the considerations is to mop up available meters assembled in-country and incentivise indigenous meter manufacturers to enhance their plant capacities to meet demand structure of the Presidential Metering Initiative, PMI.

Adelabu said, President Bola Tinubu has instructed that Nigeria’s import dependency would be significantly minimised before it would eventually be ended.

The minister, who was on a working visit and inspection tour of Mojec Group, a major stakeholder in the power sector, said, in addition to repositioning the meter production sector, a new Bill to promote local content implementation in the power sector is being perfected for consideration by the National Assembly.

RELATED

Federal Gov’t Approves N68.7bn To Light Up 8 Universities, Hospitals, Rural Businesses

46 seconds ago

FMBN Recovers N18.9bn Bad Loans, Renews Recapitalisation Push

1 minute ago

He said, importation of goods especially smart prepaid meters is inimical to national development, employment generation and economic growth and that 90 per cent of the current hardship in Nigeria was caused by the country’s import dependence.

The minister further said the Presidential Metering Initiative (PMI), is making move to embark on bulk procurement of smart meters, the development of indigenous Meter Data Management Systems (MDMS), and the reduction of Aggregated Technical and Commercial (ATC&C) losses to improve the efficiency and reliability of the energy infrastructure in Nigeria.

He said, though the Central Bank of Nigeria(CBN), is not presently considering special intervention options because of issues arising from previous uncoordinated interventions, but he is in talks with the CBN, to consider the dire demand of the sector and provide the necessary support for local meter manufacturers.

Earlier, Group managing director of MOJEC Group, Chantelle Abdul, said Nigeria will face serious energy challenges in the next two decades except proactive measures are considered to deal with seeming problems being presented by the sector.

Abdul said, the anticipated local content drive being advocated by the minister will go a long way to strengthen local manufacturers who are in need of intervention by the government.

She informed the minister that, despite bank guarantees by Electricity Distribution Companies, DisCos, MOJEC has spearheaded deployment of meters at its own risk across the country.

According to her, about five million per-paid electricity meters so far installed under different government meter deployment initiatives, her company is responsible for 50 per cent of the number so achieved.

She said the group is ready to enhance present installed meter production capacity to meet demand level by the PMI.

Abdul said her firm is inching towards increasing the local content component of its meter assembly from 40 per cent to over 60 per cent and fully attaining 100 per cent as urged by the minister.

According to him, the Meter Assets Providers (MAPs) would equally have to provide a minimum number of 2,000 meters to participate in the market. He stated that Nigeria should be self-reliant, adding that Nigeria has a market for its products.