The federal government has signed an agreement with three Chinese companies to provide 1.4m meters to reduce the metering gap in the country.
A statement by the Transmission Company of Nigeria (TCN) stated that the project is part of the Distribution Sector Recovery Programme (DISREP), funded by the World Bank’s $500 million facility through the Investment Project Finance (IPF) arrangement.
The Federal Government, through the Bureau of Public Enterprises (BPE) and Distribution Companies, signed a contract agreement with consortium, Ningbo Sanxing Medical & Electric Co. Ltd and Ningbo Sanxing Smart Electric Co. Ltd, and Messrs XJ Group Corporation for the supply and installation of 1,437,500 smart meters across the country.
The TCN’s MD/CEO, Engr. Sule Ahmed Abdulaziz, represented by the Executive Director, Transmission Service Provider, Engr. Ajiboye Oluwagbenga, praised the project as a significant step in bridging the 7.1-million-meter gap in Nigeria.
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Recall that the TCN and local manufacturers were last year at loggerheads over another $155m loan by the World Bank to finance a 1.2m meters.
The manufacturers under the auspices of the Meter Manufacturers and Assemblers Association of Nigeria (MMAAN) had stated that the call for tender by the TCN requesting contractors to provide at least $340,000 as security to qualify for the bid was not possible for them.
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