The Federal Government, via the Bureau of Public Enterprises and distribution corporations, has signed a contract settlement to produce and set up 1.4 million meters.
The settlement was signed with Ningbo Sanxing Medical & Electric Company Limited, Ningbo Sanxing Smart Electric Company Limited, and Messrs XJ Group Corporation for supplying and putting in 1,437,500 sensible meters throughout the nation.
A press release by the Transmission Company of Nigeria on Friday stated the signing ceremony was held on the BPE headquarters in Abuja.
TCN’s Managing Director/Chief Executive Officer, Sule Abdulaziz, who was represented by the Executive Director, Transmission Service Provider, Ajiboye Oluwagbenga, praised the venture as a major step in bridging the 7.1 million meter hole in Nigeria.
The assertion posted on its X deal with disclosed that “the project is part of the Distribution Sector Recovery Programme funded by the World Bank’s $500m facility through the Investment Project Finance arrangement.”
The PUNCH recollects that the Minister of Power, Adebayo Adelabu, stated President Bola Tinubu had accredited the procurement of about 2 million meters yearly for 5 years.
The plan, he stated, was to shut the metering hole to place an finish to estimated billing.
Adelabu introduced that any buyer who will get the meter free of charge pays the fee in 10 years.
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