Sunday, Apr 18th 2021 11:59 PM

Market Digest Nigeria


FG assures the implementation of cost reflective tariffs on electricity

The Minister of State for Labour, Festus Keyamo, has assured that the Federal Government would ensure that all issues surrounding the implementation of cost-reflective tariffs in the sector are addressed soon.

Keyamo, who led the ad-hoc committee on electricity tariff to a facility tour of meter manufacturing Company in Nigeria, MOMAS Electricity Meters Manufacturing Company, in Mowe, Ogun State, reaffirmed the government’s commitment to the scheme. The team, which consisted of the Nigeria Labour Congress (NLC), Trade Union Congress (TUC), electricity distribution companies (DisCos), and industry players, commended efforts by MOMAS to the development of the power sector through modern technology.
The minister promised to engage all stakeholders in the country until contending issues surrounding the power industry are resolved. “Our team is making a facility tour to MOMAS to have first-hand information on the company’s capacity and capability in bridging the metering gaps. We are focusing on addressing all the issues surrounding the implementation of cost-reflective tariffs in the power sector.
“MOMAS has the capacity of metering the entire country if given the support. The company can meet national expectations of metering. With what we saw, we are convinced that MOMAS has what it takes to drive the sector,” the Minister said. President, Senior Staff Association of Electricity and Allied Companies (SSAEAC), Chris Okonkwo, also commended MOMAS for its immense contribution to the downstream power sector, especially in helping to bridge the metering gap.
President, the United Labour Congress (ULC), Joe Ajaero, also applauded the innovation and foresight of MEMMCOL in setting up the metering school, which would provide a pool of well-trained professionals for the industry. In his remarks, Chairman, MOMAS, Kola Balogun, reaffirmed the company’s capacity to bridge the metering gap in the country, adding that it also can deploy the product across the country.

He said: “We have been advised by the delegation on what we needed to put right in the metering code to suit both the purpose of DisCos and meet consumer’s need. “We can address the metering supply locally. We have also developed a mix grid methodology that will address sub-station system challenges.”

Source : The Guardian

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