On at about 08:13:10 AM, CBN Launches The Framework For Mass Metering Financing was updated.
Read!: CBN Launches The Framework For Mass Metering Financing; The specification for the National Mass Metering Programme (NMMP) has been issued by the Central Bank of Nigeria ( CBN). The structure was published by the apex bank's Development Financing Department on Monday via its official website.
It claimed that the implementation, effective Sept. 1, of the Service-Based Tariff (SBT) in the Nigeria Electricity Supply Industry (NESI) had placed greater emphasis on the need to close the NESI metering gap. "Closing this gap would increase the efficacy of Distribution Companies' (DisCos) revenue collection and thus encourage fulfilling their obligations to other upstream market participants. According to the Nigeria Electricity Regulatory Commission's report, the current metering gap in the NESI – based on recent customer enumeration data – is over 10 million.
“This comprises of unmetered customers as well as customers with obsolete meters that need to be replaced,’’
CBN claimed that the system specifies the operational modalities for DisCos (Downstream) and Local Meter Manufacturers (Upstream) to facilitate CBN financing. It added that the NMMP's main objectives included raising the measuring rate of Nigeria, removing arbitrary estimated billing, improving the value chain of the local meter by increasing the output, assembly, and deployment capability of the local meter.
“It will support Nigeria’s economic recovery by creating jobs in the local meter value chain and reducing collection losses and increasing financial flows to achieve 100 per cent market remittance obligations of the DisCos. “ It will also improve network monitoring capability and availability of data for market administration and investment decision making,’’
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