The Central Bank of Nigeria (CBN) has disbursed N14.35 billion to electricity distribution companies (DisCos) to procure 263,860 meters for electricity consumers in the country.
This was disclosed on Thursday, via the official twitter handle of the presidency @NGRPresident.
“The Central Bank of Nigeria (CBN) has now disbursed a total of 14.35 billion Naira to the Distribution Companies of Nigeria (DisCos), to cover the procurement of 263,860 meters under the National Mass Metering Programme (NMMP).
“Under the first phase of the Presidential Mass Metering Initiative, we are making funding immediately available for DisCos to roll out 1,000,000 Meters in the first phase, at no cost to consumers. Deployment has already started in parts of Kano, Kaduna, Lagos and Abuja.”
The disbursement was under the National Mass Metering Programme (NMMP), initiated by the federal government to put an end to estimated billing of electricity consumers by DisCos.
UPDATE: The Central Bank of Nigeria @cenbank has now disbursed a total of 14.35 billion Naira to the Distribution Companies of Nigeria (DisCos), to cover the procurement of 263,860 meters under the National Mass Metering Programme (NMMP).#Thread https://t.co/KLi5FuCsVO
— Presidency Nigeria (@NGRPresident) January 21, 2021