The Federal Government’s order to issue out one million meter to electricity consumers annually is not realistic. This is according to Electricity distribution companies.
According to the DisCos, the cap on their capital expenditure is a major challenge to meeting the deadline.
This was revealed during an interactive session, the Chief Executive Officers of the 11 DisCos with the Acting Director-General, Bureau of Public Enterprises, Vincent Akpotaire, at the bureau’s office in Abuja.
The Managing Director, speaking on behalf of the successor power companies, said Ibadan Electricity Distribution Company, John Donnachie, said the DisCos and GenCos had benefited from efforts of the government in the sector through the National Integrated Power Project, the Niger Delta Power Holding Company, the Nigerian Bulk Electricity Trading Plc and the Central Bank of Nigeria’s N213bn intervention fund.
He therefore called for additional intervention through the bureau to secure more investment from the Federal Government by financing the 40 per cent equity held in trust by the BPE for the government.
He also said the implementation of the cost reflective tariff, is a step in the right direction and the federal governments deadline to meter one million customers within a year was not realistic.