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Power: CBN says it has disbursed N47.66 billion to acquire 858,026 meters

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The Central Bank of Nigeria (CBN) reported that it has so far disbursed the sum of N47.66 billion to Electricity Distribution Companies under its mass metering scheme, acquiring 858,026 meters.

This was disclosed by Godwin Emefiele, CBN governor at the recently held Monetary Policy Committee meeting in Abuja.

The CBN Governor added that DisCos have also received another N37.6 billion for the Nigeria Electricity Market Stabilisation Facility (NEMSF-2).

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What the CBN Governor said

Emefiele said the Central Bank of Nigeria is committed to boosting Nigeria’s power sector, adding that “Under the National Mass Metering Programme (NMMP), N8.69 billion was disbursed to four Distribution Companies (DisCos) under the scheme’s Phase-0.

“The sum of N47.66 billion has been disbursed so far for the acquisition of 858,026 meters.

Also, in furtherance of its intervention in the energy sector, the bank released N27.03 billion to power sector players under the Nigeria Bulk Electricity Trading Payment Assurance Facility (NBET-PAF).

“This is in addition to the N37.69 billion disbursed to eight DisCos recently, under the Nigeria Electricity Market Stabilisation Facility (NEMSF-2),’’ he said.

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In case you missed it

Nairametrics reported in September that the Central Bank of Nigeria (CBN) disbursed N41.06 billion to ten (10) DisCos, for the procurement and installation of 759,748 electricity meters.

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