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Published 6 May 2021
Power consumer groups have called for increased and stable electricity from distribution companies following the N120bn capital expenditure fund provided by the Central Bank of Nigeria for the improvement of distribution infrastructure.
Officials of Electricity Consumers Association of Nigeria and the Nigeria Electricity Consumers Advocacy Network commended the Federal Government for the intervention through the CBN, but insisted that the funds must impact positively on the power sector.
Last week, the Special Adviser to the President on Infrastructure, Ahmad Zakari, revealed that the CBN had provided funding for capital expenditure by Discos in order to improve electricity distribution across the country.
Vanguard News
Electricity Consumers praise CBN for N120bn power intervention
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By Obas Esiedesa
As a part effort to support and grow revenue of the power sector, the Central Bank of Nigeria, CBN, last week disclosed that it has disbursed about N3.6 billion for procurement of pre-paid meters to stabilise the billing system in electricity consumption in Nigeria as part of its N120.2 billion investments in distribution companies, DisCos, for infrastructure capital expenditure.
With about 55.5 percent of Nigeria’s 8.3 million electricity customers still without meters, the CBN intervention was described by the consumer group, Electricity Consumers Association, as a game-changer.
How CBN s 120bn intervention is pushing power sector growth - Stakeholders vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.
Views: Visits 13 By Obas Esiedesa Stakeholders in the power sector have noted that the N120 billion investments by the Central Bank of Nigeria, CBN, would improve power supply across the country especially in distribution infrastructure. The apex bank had last week disclosed that it has disbursed about N3.6 billion for procurement of pre-pay meters to stabilise the billing system in electricity consumption in Nigeria as part of its N120.2 billion investments in distribution companies, DisCos, for infrastructure capital expenditure. With about 55.5 percent of Nigeria’s 8.3 million electricity customers still without meters, the CBN intervention was described by consumer group, Electricity Consumers Association, as a game changer.
Vanguard News
Electricity tariff hike: Anger, resentment greet latest plan
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Tunde Oso
Stakeholders in different sectors of the economy have expressed disgust and resentment at the latest plan of electricity tariff hike. Many sectoral leaders have opposed the tariff increase, maintaining it is “ill-timed” and disregards the challenges faced by Nigerians.
Firing the first salvo, the Manufacturers Association of Nigeria (MAN) urged the Federal Government to reconsider, while the Electricity Consumers Association of Nigeria rejected the tariff hike.
Nigerians were ushered into the new year with news of a further increase in electricity tariffs in a Nigerian Electricity Regulatory Commission NERC order signed by the new Chairman, Sanusi Garba and one of its Commissioners, Dafe Akpeneye, which instructed DisCos to increase tariffs effective January 1, 2021.