21 March 2018, Sweetcrude, Abuja – The Minister of Finance, Mrs. Kemi Adeosun, has called on the Federal Ministry of Power, Nigerian Electricity Regulatory Commission (NERC) and the Nigeria Bulk Electricity Trading Company (NBET) to ensure the full metering of power consumers across the country.
Adeosun contended in a statement obtained by our correspondent in Abuja, that effective and wholesome metering of electricity consumers by operators would in turn significantly improve billing accuracy as well as boost collections by electricity distribution companies (Discos).
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.”
Clarifying the Ministry of Finance’s position, Adeosun said, “It is unhealthy for the Federal Government of Nigeria to build an entire sector based on Sovereign Guarantees without simultaneously addressing key challenges inhibiting financial sustainability across the value chain.”
She added that, “The Federal Ministry of Finance is focused on achieving market sustainability in the long-term and requires that the NBET has a comprehensive plan to manage these exposures to avoid a drawdown on the PRGs.
“It is imperative that the Federal Ministry of Power, Nigerian Electricity Regulatory Commission (NERC), and the NBET must ensure that meters are rolled out to improve billing accuracy and also improve distribution companies’ collections in order to increase cash flows to the power sector value chain.”