The Minister of Power, Mr Saleh Mamman has said that effective metering remains the best option to drive the power sector.
Speaking during facility inspection of Momas Electricity Meters Manufacturing Company (MEMMCOL) factory in Ogun State at the weekend, Mamman said that this will enable the distribution companies to get more money to pay generating companies.
He, however, expressed his readiness to improve the country power sector through effective metering that will meet consumer’s demands and also address liquidity challenges.
“Metering is one of the thing bordering Nigerians particularly, the electricity consumers. When I resume office, I took it as my priority and also one of the important area on electricity market liquidity and sustainability, he averred.
He added that they will get more money from distribution companies to pay Gencos and the only way to justify that, is go by metering, he added “that is why am here to see it and believe it and to also direct on how to get meter soonest ’’
He disclosed that the country has the capacity and capability to meet the metering gap in the country, and also expressed the belief that, local companies have the capacity to produce meter that is expected and required in the country.
Mamman commended the management of MEMMCOL for putting up the gigantic meter manufacturing company that has the capacity to meet Meter Assets Providers (MAPs) specification in the country and also expressed satisfaction with the local content-driven initiative by the company on meter manufacturing.
The Chairman of MEMMCOL, Mr Kola Balogun said, the company has the capacity to produce above 50,000 smart meters per month if given the support by government and adequate patronage from distributing companies.
He appreciated the minister for taking out time to inspect the meter manufacturing company while assuring the minister that the company will continue to produce quality and standard meter that meets the international best standard.
Balogun assured Nigerians that, the company has the capacity and the capability to deliver the metering solution and also bridged metering requirement in the country.
He stressed that all they need is government interventions and make liquidity available to them to produce for the larger populace that requires metering.
He lamented that one of the major challenges is funding because Discos needs recapitalization, adequate funding to buy sufficient meter for the consumers, he said.
On MAP, Balogun said due to liquidity and insufficient fund, in terms of single digit from the financial institution, it posed a serious challenge to the metering requirement which are the reasons for what the meter providers are facing.
He appealed o government to ensure that local content is entrenched as policy in the power sector industry for meter licensee to comply with on local content policy.
He urged government upscale the 30 per cent local content act on metering to 70 per cent to give local meter manufacturer opportunities to attract investors.
He said it is possible to increase their meter producing a shift from one to three shifts to meet up the metering gaps if given the opportunities and patronage.
He pleaded with the government to proclaim an enabling regulation that would enhance support for locally produced electricity smart meters and products.
“Government needed to invest heavily in the sector and through its regulatory authorities, ascertain that these products meet international standards,” he said.