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According to the Special Adviser to the Minister of Power on Strategic Communications and Media, Bolaji Tunji, the PMI was on course with a target to deliver two million meters yearly.
He revealed that the amount reserved for the project had reached N700bn and procurement had started.
He said, “The Presidential Metering Initiative is still on course. Two million meters every year, delivery of the first batch will start by the first quarter of next year. About N700bn provision has been made, and the money is ready.”
The special adviser further revealed that the government would fulfil its promise to deliver 1.3 million electricity meters out of the 3.2 million meters under the World Bank Distribution Sector Reform Programme initiative this month.
“The DISREP programme will commence this month,” he noted.
However, an analysis of the Federal Account Allocation Committee meeting minutes obtained by our correspondent between April and August showed that the government had saved N420bn from a monthly deduction of N100bn.
The amount deducted from the monthly federation revenue before allocation to the three tiers of government was aimed at bridging the metering gap in the country, which currently stands at 50 per cent.
Recall that N120bn was deducted from April revenue as the first tranche for the PMI, bringing the amount deducted from the federation account for the initiative as of AWorld (7)
