The Nigerian Electricity Regulatory Commission (NERC) said it has commenced discussions with the Central Bank of Nigeria (CBN) on the provision of a N200 billion loan facility to support the steady operation of its new regulation designed to ensure that electricity consumers in the country have access to meters within the next three years, Leadership reports.
The proposal now awaiting approval of the CBN will enable operators of the Meter Asset Provider (MAP) Regulation have access to a single digit interest loan that will enable them provide meters and recoup their fund within 10 years. NERC Commissioner of Finance & Management Services, Mr. Nathan Shatti disclosed this during the April edition of Nextier Power Dialogue in Abuja.
According to the Commissioner, NERC decided to approach the CBN to provide a backup so as to guarantee the investors access to loan interest funds that sustain the programme. The NERC had approved a regulation that provides for the supply, installation and maintenance of end-user meters by other parties late last month as part of efforts to ensure that electricity customers in Nigeria have access to meters.
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