The Kaduna Electricity Distribution Company (KEDCO) said it would establish a $250 million meter manufacturing plant in Kaduna.
The Managing Director of the company, Mr Garba Haruna hinted this at the flag-off of the distribution of 20,000 free smart electricity meters to customers in Kaduna State on Wednesday.
Haruna said the plant would enhance the availability of electricity meters in the company’s operational states of Kaduna, Kebbi, Zamfara and Sokoto.
He said that a site had already been secured and work would soon begin to set up the plant.
According to him, the target is to meet the company’s target of distributing 500,000 meters to its customers in the next five years.
The Managing Director said local production of the meters would add value to electricity distribution in Nigeria.
He said, “This will also reduce the cost of importing some of the components for producing the meters for our franchise states and the country.
He added, “This will also create more employment opportunities for graduates and other supporting staff.”
The Managing Director said the meter manufacturing plant would also help the company cut down the cost of training its technical staff.
He noted that, with the plant, customers would not have to wait for months for their meters to be installed.
The Chairman of the company, Alhaji Yusuf Hamisu, in his response appealed to the Government to introduce a robust monetary policy to stabilise the country’s currency.
Hamisu said the instability of the Naira had affected the company’s import plans of some major components for electricity distribution, thereby making it difficult to provide effective services.