Nigerian Government grants Discos $106m loan for the supply of meters
The Federal Government of Nigeria has approved a N39 billion ($106 million) loan facility to Electricity Distribution Companies (DISCOs) for the supply of meters, according to Babatunde Fashola, Minister of Power, Works and Housing.
This, he disclosed at the 18th Monthly Power Sector Stakeholders Meeting hosted by Kano Electricity Distribution Company (KEDCO) in Kano on Monday.
He explained that the move was in line with the government’s power sector recovery programme which aims to ensure uninterrupted power generation and supply across the country. “It is also aimed at ending the series of complaints by consumers who applied for meter but were not supplied at the appropriate time.”
Fashola noted that power generation improved this year to 6, 863 megawatts compared to last year. This can be attributed to efforts by the government to end rampant vandalism of gas pipelines.
“With this development, we have also noticed an increase in the distribution of electricity to consumers across the country. Presently, the Federal Government is generating electricity beyond the carrying capacity of distribution companies, which is a serious challenge to our efforts. It is a serious problem that the distribution companies do not have enough carrying capacity to accommodate more of the generated electricity due to one reason or the other,” he said.
The Minister added that the government had undertaken several projects to expand transmission capacity and distribution of electricity in the country.