Amidst a harsh economic reality and the gross failure of the Nigerian Electricity Supply Industry (NESI) to deliver basic services, it appears that the masses may have to shoulder the responsibility of providing electricity meters worth a staggering N1.005 trillion.
With hard-to-implement refundable policies amid weakening disposable income of consumers, the prevailing situation comes on the backdrop of the Federal Government’s poorly planned National Mass Metering Programme, which has faced sustainability challenges due to allegations of greed and corruption even as the programme, supported by the World Bank and the Central Bank of Nigeria (CBN), now faces fresh hurdles.
One of these hurdles pertains to the planned distribution of 1.2 million meters funded by the World Bank. Unfortunately, a deadlock between the apex bank and the Meter Manufacturers and Assemblers Association of Nigeria (MMAAN) has forced the World Bank to reconsider its approach.
With the surge in the price of meters, an additional N40.8 billion would now be required for the project to proceed.