Power Minister hints of new regulation to favor local meter manufacturers

Business News

By Franklin Ocheneyi

“We spent millions of naira to buy telephones from China and still we will go back and borrow money from China. So, we want to change that in meter industry, we are happy that some Nigerians are manufacturing meter in Nigeria and we promise to support them.”

This statement came from Mr. Babatunde Fashola, the Minister of Power, Works and Housing, when he inspected the National Meter Test Station in Oshodi, Lagos.

The Minister said that Nigeria meter journey from 1950 showed that consumers depended on meters from foreign countries, stressing, “But now, we are beginning to see meters from local manufacturers like Mojec and Moman, that is a good place to be.”

Fashola observed that metering is a big issue and government hope to address it more vigorously this year with regulations that will open up the business to many more Nigerians.

He said that this would reduce the pressure on Electricity Distribution Companies (DISCOs) on meter supply.

“The core business of DISCOs is to transport energy, their business is not to supply meters,” he said.


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