Metering gaps remain despite N273.3b loan to DisCos for meters, others

Nigeria’s electricity Distribution Companies may have spent an average of N670,000 to purchase each prepaid meter and other accessories through a N273.3 billion facility obtained from the Central Bank of Nigeria .Nigeria’s electricity Distribution Companies may have spent an average of N670,000 to purchase each prepaid meter and other accessories through a N273.3 billion facility obtained from the Central Bank of Nigeria .

Coming under the Nigerian Electricity Market Stabilisation Facility intervention project, which targets increasing electricity capacity from 3,400MW to approximately 4,900MW, the CBN report showed that the DisCos spent the money on maximum Demand meters, Smart meters, and Single-Phase meters. The court documents showed that the apex bank requested 15 commercial banks and the Bank of Industry to freeze the accounts of 157 companies for 180 days pending the outcome of its investigations.

Nigeria’s electricity Distribution Companies may have spent an average of N670,000 to purchase each prepaid meter and other accessories through a N273.3 billion facility obtained from the Central Bank of Nigeria . Ijaw Youth Council has criticised and condemned, in strong terms, the killing of soldiers on a peace mission to Okuoma, an Urhobo community in Ughelli South Council of Delta State.

A Federal High Court sitting in Port Harcourt, Rivers State has adjourned a suit filed by civil society organisations in the state against the embattled 25 members of the state House of Assembly to April 26 for hearing.

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