Nigeria meter assets providers must accommodate 40 percent local content, says electricity market regulator, NERC
Bukola Odufade is Businessamlive Reporter.
You can contact her on email@example.com with stories and commentary.
January 23, 20181.4K views0 comments
Nigeria’s electricity market regulator, the Nigerian Electricity Regulatory Commission (NERC), has issued directive that every investment made in the meter subsector must accommodate up to 40 percent of the local content in the investment.
This was made known at a presentation in Abuja where a new draft regulation on third-party investments in meter infrastructure within the eleven electricity distribution networks (DISCOs) in Nigeria was released.
According to the draft, Meter Assets Providers (MAP) in any of the electricity distribution networks, “shall source not less than 40% of
its contracted metering targets from local meter manufacturing/assembling companies in Nigeria,” and would be given operational licenses lasting for 15 years in the first instance by the commission after meeting the licensing requirements.
It was also noted that while the Discos are still responsible for meeting their metering targets as stipulated by the NERC, from time to
time, they would, however, be allowed to procure the services of MAPs with the commission engaging the services of a tender auditor to audit the Discos’ procurement process for the engagement of the MAPs.
- Think-tank seeks paradigm shift on electricity crisis by new govt.
- Stock market closes negative with market capitalisation down N57bn
- NGX maintains bullish trend as market capitalisation gains N167 billion
- Stock market closes bullish as NASCON tops gainers chart
- Nigeria’s GDP slows to 2.31% in Q1’23 amid cash scarcity, says NBS
Also, the draft said that “the development of independent and competitive meter services in the Nigerian Electricity Supply Industry
(NESI), and the attraction of private investment into a viable metering services industry,” was its main objectives.
The regulation also states that the minimum technology and back-office requirements expected of the MAPs must be sufficient enough with relevant technological resources that are capable of maintaining and retrieving records of financial, inventory, and customer data.