Mass metering: FG grants Yola DisCo N5bn loan
The Federal Government, through the Federal Ministry of Power, has launched a mass metering program at the Yola Electricity Distribution Company (YEDC).
Daily Independent reports that the Minister of Power Engr Sale Mamman, who performed the function in Yola said the Buhari administration was determined to ensure that all Nigerians have meters in their houses and business places.
For the purpose of ensuring the overall success of the National mass metering program, the federal Government has granted Yola Electricity Distribution Company (YEDC) a soft loan of N5,061,147,103.
Making the disclosure during the flag-off of the national mass metering program for Yola Electricity Distribution Company, minister of power, Eng. Sale Mamman said the move will ensure abridgment of the metering gap in the Nigerian Electricity Supply Industry generally.
“The Nigerian electricity market has for many years, struggled with inadequate revenues thus creating significant liquidity challenge for all market participants in the value chain.”
“One of the major contributors of the funding challenge is the low level of metering for end-use customers.
“This is the principal reason for customer resistance to payment of electricity bills due to the perceived lack of confidence and trust in estimated billing”, Mamman said.
The minister noted that the loan will enable the company to source 85,367 meters comprising 62,324 single-phase and 23,057 three-phase meters under phase zero of the national mass metering program.
“I thus call on the management of the YEDC to make good use of this facility to significantly reduce the aggregate technical commercial and collection losses which negatively affects the revenue stream of the company as well as improve electricity supply to your esteem and valuable customers.”
“On the part of customers, I wish to call on the valued customers of YEDC to desist from tampering with electricity meters. This is not only on account of protecting the revenues of the DisCO but more importantly for the safety of the customers as there have been reports of customers losing lives in course of bypassing meters”, he said.
Thanking the federal government for the bold step to enhance service delivery in the power sector, governor Ahmadu Umaru Fintiri said the move is a step in the right direction.
The governor who was represented by the commissioner of works and energy development, Adamu Atiku urged the contractors handling the metering project to ensure excellent delivery of services.
In his remarks, the MD/COO of YEDC, Mustapha Baba Umara thanked the federal government for the gesture.
He noted that electricity supply in the four states under the company has tremendously improved over the years as attested by customers.
Umara urged the customers to avoid bypassing the meters so as to continue to enjoy better services by the company.