FG to Provide N37 Billion for Meters Supply Following Court Settlement

The Minister of Works, Power and Housing, Mr. Babatunde Raji Fashola, while speaking at the 21st monthly power sector operators meeting held in Asaba, Delta State, announced that Federal Government will make available a total of N37 billion to address challenges in supply of meters to customers, Vanguard reports.

He said; “I am happy to report that following the approval of the Federal executive Council (FEC), earlier in the year, the dispute over the meters supply contract that started since 2003, was resolved by a Court approved settlement on Thursday the 9th day of November 2017.”

“This means that there will be N37 billion available for meter supply by the contractor to DisCos who want to partner and can reach their independent agreement with the contractor. While we await the regulations by NERC, a lot of preparatory work can be done,” he added.

Source: Energy Mix Report