“Publishing details of spending on privatization of the power sector and post-privatization spending on Gencos and Discos would serve the public interest and provide insights relevant to the public debate on combating corruption in the power sector as well as help to improve citizens’ access to regular and uninterrupted electricity supply.”
The bill contains sections criminalizing the arbitrary estimation of energy consumed by consumers who have not been supplied pre-paid meters by the electricity distribution companies.
It noted that, “There are no free meters under the current tariff regime as all customers, including those on estimated billing, currently, pay for a return on the investment made by electricity distribution companies on meters in their networks.”
The regulation, which is slated to commence on April 3, 2018, is projected to close the metering gap and eliminate estimated billing in the Nigerian Electricity Supply Industry (NESI) within three years of coming into effect.
The Minister said the collections would facilitate increase in cash flows to the power sector value chain and ensure stability of federal government reforms in the sector, adding that, “If the market cannot pay for power distributed, the situation will remain unsustainable.”
“In many parts of the country connected to the grid, citizens’ feedback is positive, even though all the problems are not solved. Citizens acknowledge more power in dry weather, reduced hours of running their generators and reduction in fuel (diesel and petrol) purchase to power generators.”
The introduction of the regulation now means that private investors, apart from the distribution companies (Discos), can procure meters in understanding with the concerned Discos to recoup their monies with time through specified charges incorporated into electricity bills.
“Presently, inadequacies in the distribution networks are limiting the amount of power delivered to end-users on daily basis. This problem is pronounced anytime there is heavy rainfall. This calls for significant investments in the distribution network.”
“The accrued interests due to the Federal Government to the tune of N2 billion and $3.8 million were alleged to have been diverted by those banks in collaboration with officials of the Central Bank of Nigeria,” Onyema said.
Akpan recalled an incident which occurred on June 30, 2017 in Rumuomasi, Port Harcourt, where a couple and four children were suffocated to death by generator fumes in their apartment.
