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CBN releases framework for financing of mass metering

CBN releases framework for financing of mass metering

The Central Bank of Nigeria (CBN) on Monday 19 October, 2020 released its framework for the National Mass Metering Programme (NMMP). The framework outlines the operational modalities of the CBN financing support to electricity distribution companies (DisCos) with the objective of increasing Nigeria’s metering rate, eliminating arbitrary estimated billing, strengthening the local meter value chain by increasing local meter manufacturing, assembly and deployment capacity.

The apex bank stated that the introduction of the Service-Based Tariff (SBT) in the Nigerian Electricity Supply Industry (NESI) effective September 1, had put increased emphasis on the need to close the metering gap in the NESI. According to the apex bank, “Closing this gap will enhance efficiency of revenue collection by the DisCos and thereby facilitate meeting their obligations to other upstream market participants.

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