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NERC Has Approved Sum of N21bn To meter end-User Customers Free

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The Nigerian Electricity Regulatory Commission (NERC) announced on Friday, June 21, the approval of N21 billion for the eleven electricity Distribution Companies (DisCos) to provide meters for end-use customers at zero cost. This move is part of the Presidential Metering Initiative under the Meter Acquisition Fund (MAF), aiming to bridge the metering gap and enhance customer satisfaction.

In ORDER NO: NERC/2024/072, titled “The Operationalization of ‘Tranche A’ of the Presidential Metering Initiative Under the Framework of Meter Acquisition Fund,” NERC detailed the operationalization of this initiative. The order states that DisCos will purchase and install meters for customers free of charge, utilizing the funds accrued up to the April 2024 market settlement cycle. The total amount available for this first tranche, known as “Tranche A,” is NGN21,864,851,725.00, with NGN21,000,000,000 approved for immediate use.

“The Commission hereby approves the use of a sum of NGN21,000,000,000 apportioned pro rata to contribution by the DisCos as Tranche A of the MAF scheme. Attached to this Order as Schedule 1 is a breakdown of the funds available for each DisCo for the purchase of end-use customer meters,” NERC stated.

NERC emphasized that all meters procured and installed under this framework will be at no cost to the customers. This initiative is expected to accelerate meter deployment, close the current metering gap, reduce commercial and collection losses for DisCos, and enhance service quality and customer satisfaction.

The first tranche of the MAF Scheme, based on contributions made by DisCos as of the April 2024 market settlement, will focus on procuring and installing meters for unmetered Band ‘A’ customers within their franchise areas. Band A customers are defined as those receiving a minimum of 20 hours of electricity per day and are charged a premium tariff of N208 per kilowatt-hour (kWh).

NERC also noted the importance of a transparent and competitive procurement process for meter price determination and the selection and engagement of Meter Asset Providers (MAPs) and Licensed Meter Manufacturers and Assemblers (LMMAs). This process aims to ensure the efficient deployment of meters and the protection of revenue streams within the Nigerian Electricity Supply Industry (NESI).

Adebayo Adelabu, the Minister of Power, previously stated that the federal government would release N20 billion to DisCos for procuring meters for unmetered Band A customers within the next three months. This funding will further help close the metering gap for these customers.

“Before I left the office yesterday, I met with the chairman of NERC, Alhaji Garba Sanusi, and we’ve agreed that we have an accrued N20 billion for metering. I said to him, let us release this N20 billion for the DisCos to procure meters for the unmetered Band A customers before the end of September. That is going to happen. I can assure you that,” Adelabu said.

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Business

Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

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By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

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Nigerian Capital Market Posts Strong 2025, Faces 2026 Uncertainties

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By Omoniyi David

The Nigerian capital market recorded one of its strongest performances in 2025, earning global recognition after delivering exceptional returns and attracting increased investor interest.

As attention shifts to 2026, analysts are assessing whether the rally can be sustained amid political and policy uncertainties.

The market closed 2025 with an average equities return of 51.19 per cent, placing Nigeria among the world’s top five performing stock markets.

The Nigerian Exchange All Share Index posted a net capital gain of N32.13 trillion, outperforming several major economies where average returns remained below 25 per cent.

Capital raising activities rose to about N7 trillion, reinforcing the market’s role as a key funding source for government and corporate expansion.

Trading volumes also hit record levels, supported by strong activity in both the primary and secondary markets.

The debt market remained resilient, with companies increasingly relying on capital market instruments amid high interest rates. Commercial paper issuances alone reached nearly N1 trillion, largely driven by private firms.

The positive momentum has extended into 2026, with equities valuation approaching N100 trillion despite early year spending pressures. Analysts, however, caution that the year presents a mix of opportunities and risks.

As a pre election year, 2026 will see heightened political activity alongside the first full implementation of new capital market and tax laws. While the reforms are expected to strengthen regulation, analysts warn that policy interpretation and execution could influence investor sentiment, especially foreign portfolio flows.

Market watchers are also focusing on banking and insurance sector recapitalisation, which is expected to drive equity issuances, mergers and acquisitions in the first half of the year.

Analysts say sustained policy stability and effective implementation will be critical in determining whether the market extends its rally or enters a period of adjustment.

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Adeyanju Restates Commitment to People-Focused HR Solutions, Social Impact

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By Oso Abidemi 

Rimini Abarshi Adeyanju, Founder and Chief Executive Officer of Mini Option Consulting Ltd, has reaffirmed her commitment to people-centred business solutions, leadership development, and community impact.

Adeyanju, a business professional and human resources consultant, said Mini Option Consulting is driven by the belief that people are the foundation of every successful organisation.

The firm provides recruitment, outsourcing, and workforce solutions aimed at helping businesses grow sustainably through integrity, professionalism, passion, teamwork, and continuous development.

Beyond her professional work, Adeyanju highlighted her humanitarian efforts, revealing that she has run a food-sharing initiative for the past four years to improve access to affordable food and support vulnerable members of society.

She described the initiative as a journey rooted in consistency, community, and giving back.

She also expressed passion for lifelong learning, leadership, and creating meaningful impact both in business and everyday life, noting that her platform will focus on HR insights, entrepreneurship, career growth, and community initiatives.

Adeyanju said she looks forward to connecting and collaborating with like-minded individuals and organisations, describing her space as one where purpose, people, and professionalism meet.

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