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POWER: CBN says it paid N47.66 billion to purchase 858,026 Prepaid Meters

T.I Ukende
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The Central Bank of Nigeria (CBN) reported that it has paid out the sum of 47.66 billion naira to electricity distribution companies and acquired 858,026 meters to date as part of its mass measurement system. 

Political Committee meeting in Abuja. The CBN governor added that DisCos has also received an additional 37.6 billion naira for the Nigerian Electricity Market Stabilization Fund (NEMSF2).

Emefiele said the Central Bank of Nigeria is committed to boosting Nigeria’s power sector, adding that “Under the National Mass Metering Programme (NMMP), N8.69 billion was disbursed to four Distribution Companies (DisCos) under the scheme’s Phase-0.

“The sum of N47.66 billion has been disbursed so far for the acquisition of 858,026 meters.

“Also, in furtherance of its intervention in the energy sector, the bank released N27.03 billion to power sector players under the Nigeria Bulk Electricity Trading Payment Assurance Facility (NBET-PAF).

“This is in addition to the N37.69 billion disbursed to eight DisCos recently, under the Nigeria Electricity Market Stabilisation Facility (NEMSF-2),’’ he said.

In September, the Central Bank of Nigeria (CBN) disbursed N41.06 billion to ten (10) DisCos, for the procurement and installation of 759,748 electricity meters.

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