Stakeholders want review of CBN’s interventions in power sector | The Guardian Nigeria News - Nigeria and World News ⚠️
•Overhaul of NMMP, list conditions to bridge metering gap
To NERC, only about 4.66 million end-users, representing 36 per cent of the entire pool, had been fully metered as at the end of November 2021. The Special Adviser to the President on Infrastructure, Ahmad Zakari, had said N120b capital expenditure fund was being provided by the Central Bank for Distribution Companies to improve infrastructure, especially the metering challenges.
Most stakeholders, who spoke with The Guardian yesterday insisted that the interventions by the apex bank on metering remained sacrosanct but stressed the need for a new approach that would solely focus on local manufacturers and assemblers of the products. According to him, while such a fund remains a loan with a set payback period, its application has to be strictly monitored to ensure project objectives are achieved.
He alleged that serious efforts went into silencing the published allegations of diversion of money meant for metering given to the MAPs, noting that “This is definitely casting an ominous shadow on Phase one of NMMP.”
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