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Electricity: Free meters distribution begins today ahead of new tariff
By Fola Raheem
Distribution of free electricity meters is expected to commence across the country today as indication has emerged that power customers may start paying new rate for electricity consumed from next week.
Already, the Central Bank of Nigeria (CBN) has through its Development Financing Department, released a framework for the National Mass Metering Programme (NMMP).
The National Mass Metering Programme (NMMP) will roll out the free meters with a simultaneous launch of the scheme in Kano, Kaduna, Eko and Ikeja Disco franchise areas, according to a Presidency source.
President Muhammadu Buhari had initiated the programme to close the metering gap in the Nigeria Electricity Supply Industry and eliminate arbitrary estimated billing in the electricity sector.
Newstrends learnt that all arrangements for the launch had been concluded with relevant groups and authorities including representatives of the organised labour and civil society on the ground for adequate motoring and guide during the distribution.
The CBN said an analysis provided by the Nigeria Electricity Regulatory Commission put the metering gap in the NESI – based on recent customer enumeration data – at over 10 million.
“This comprises unmetered customers as well as customers with obsolete meters that need to be replaced,” it stated.
The Presidency source said the “NMMP is to roll out six million meters for all connections points on grid without meters over the next 18 to 24 months, estimating to impact 30 million consumers nationwide.
“Following Mr President’s directive on mass metering, the Central Bank of Nigeria, on October 18th, approved guidelines for funding the mass metering programme which entailed that all meters under the scheme will be locally sourced, creating thousands of manufacturing jobs through lead manufacturers such as MOMAS, MOJEC and others.”
The source also said, “The launch of the NMMP will be part of a continuous effort where all DisCos will go from location to location across the country with their respective Meter Asset Providers to install meters for all Nigerians.”
Minister of State for Power, Prince Godwin Jedy-Agba, had said out of the six million meters planned for distribution, the government would start with one million were expected to be distributed before the end of December this year.
Meanwhile, the government may have given a nod for the resumption of the collection of Service-Based electricity Tariffs (SBT) from next week.
Following a threat of strike by the organised labour, government suspended the implementation of the new electricity tariff regime in September.
But it was learnt on Friday that the labour might have backed down on the issue after the government had agreed to roll out free electricity meters.
It was also resolved that the tariffs for certain categories of power consumers should be reviewed downward.
Those in A and B bands were reduced by 10 per cent, the tariff for C band customers was reduced by 30 per cent.
For the D and E bands, there will be no increase in their tariff.
The Special Adviser on Infrastructure to President Muhammadu Buhari, Mr Ahmad Zakari, confirmed this during the 51st virtual Power Dialogue organised by Nigeria Electricity Hub in Abuja on Thursday.
He said since labour had accepted the new terms, the implementation would begin next week.
News
Yahaya Bello govt spending third term in office through Ododo – Clark
Yahaya Bello govt spending third term in office through Ododo – Clark
Elder statesman, Chief Edwin Clark, says the former Kogi State Governor, Yahaya Bello, administration was nothing to write home about.
This is even as he asked the embattled former governor to surrender himself to the authorities.
Bello has been in the news for days on end over money laundering and financial impropriety.
He was declared wanted after he evaded the economic and financial crimes commission (EFCC) who had stormed his Abuja residence to apprehend him.
Speaking on Bello’s time as the governor of the middle belt state, Clark, who is the leader of the Pan Niger Delta Forum, PANDEF, stated that state sponsored violence, corruption, civilian repression and political killings were rife when Bello was in office.
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Clark also pointed out that Bello is still running the show in Kogi state as he is currently spending third term in power through the incumbent governor, Ododo, who he planted in office.
“Yahaya Bello is just being stubborn. He has been living very very rough…having a very rough government, corruption, killing of people in the place during elections and so on,” Clark said during an interview on Arise TV on Thursday.
“There’s time for everything and it has come for him to answer questions. He should go to court. He should go to court to answer the substance of the case, where did he get the money from?
“Is it true or not that the money he paid to the American school belongs to him or belongs to the government of Kogi State?
“The behaviour of the new Governor shows Yahaya Bello is in power for the third time. Ahmed Ododo is just running after him.
“I just want to plead with Ododo to do the needful so that the youth in this country will have something to fall upon.”
Yahaya Bello govt spending third term in office through Ododo – Clark
News
‘Unfounded accusation’ – Obi slams Umahi over instigation of Igbo against Tinubu claim
‘Unfounded accusation’ – Obi slams Umahi over instigation of Igbo against Tinubu claim
Labour Party presidential candidate in the 2023 general elections, Peter Obi, says he is not in the business of whipping up ethnic sentiments or amplifying Nigeria’s fault lines to gain socio-political mileage.
Obi said this reaction to comment made by the Minister of Works, David Umahi, at an event on Wednesday on the Lagos-Calabar road project.
Obi has been vocal in his criticism of the road project, calling it a misplaced priority as it is not what Nigeria needs at a time of lean resources and plethora of challenges begging for drastic solution.
Umahi while speaking at the event said Obi’s position on the Lagos-Calabar coastal road project amounted to pitting Nigerians of Eastern extraction, who are majorly Igbos, against the government of President Bola Tinubu.
He also accused Obi of demolishing property without compensating those affected when he was Anambra governor, Obi was inciting South Easterners against the government
“When His Excellency Peter Obi was the governor. He made a statement saying, “Any infrastructure that stands in the way of the road must go. And there would be no compensation paid.” That’s what he said,” Umahi said.
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“And I think he’s inciting some of the South-East people that are not well informed. He is inciting them. And gets them into trouble,” he added
Reacting to Umahi’s allegation of divisiveness and sedition in a statement on Wednesday, Obi opined that he is a preacher of peace and advocate of unity who always wants what is best for the country.
Obi, who described criticisms that he is inciting Igbo against Tinubu’s government as baseless, stated that he won’t wallow in the murky water of divisive ethnic politics like many of his contemporaries and opponents do.
He stated, “My focus is on fostering constructive dialogue and inclusivity, rather than engaging in divisive politics, Claims of incitement are baseless distractions. I have always advocated unity and advancement, refusing to partake in reactionary divisive politics.
“I refuse to be reduced to the level of those who wallow in ethnic politics. Worse still, I have never and can never descend so low as to base my political aspirations on any sectional or ethnic interest.”
The former Anambra governor also said there were no comparisons between the demolition he did when he was governor and what the Tinubu-led government was currently doing.
‘Unfounded accusation’ – Obi slams Umahi over instigation of Igbo against Tinubu claim
News
NDIC jacks up deposit insurance cover from N500,000 to N5m
NDIC jacks up deposit insurance cover from N500,000 to N5m
The Nigeria Deposit Insurance Corporation (NDIC) has announced a significant increase in the maximum deposit insurance coverage levels for Deposit Money Banks (DMBs) and other financial institutions, effective immediately.
During a press conference in Abuja on Thursday, NDIC Managing Director Bello Hassan disclosed, “For Deposit Money Banks, the increase of the maximum deposit insurance coverage from N500,000 to N5,000,000, would provide full coverage of 98.98% of the total depositors compared with the current cover of 89.20%. In terms of the value of deposit covered, the revised coverage would increase the value of deposits covered by deposit insurance to 25.37% compared with the current cover of 6.31% of the total value of deposits.”
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Hassan further explained, “The increase of the maximum deposit insurance coverage for primary mortgage banks from N500,000 to N2,000,000 would provide full coverage of 99.99% of the total number of depositors and would increase the value of deposits covered by deposit insurance to 43.10% of the total value deposits from the current cover of 40.60%.”
Additionally, Hassan noted, “The increase of the maximum deposit insurance coverage for subscribers of Mobile Money Operators from N500,000 to N5,000,000 per subscriber.”
NDIC jacks up deposit insurance cover from N500,000 to N5m
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