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NERC: Over 1m Electricity Consumers Have Received Prepaid Meters

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The Nigerian Electricity Regulatory Commission (NERC) says 1,092,399 customers have been metered by electricity distribution companies (DisCos) under the Meter Asset Provider (MAP) scheme and the National Mass Metering Programme (NMMP).

The agency disclosed this in its reply to a freedom of information (FOI) application by an electricity consumer group that requested data on the number of meters distributed by the DisCos under both programmes.

The All Electricity Consumers Protection Forum (AECPF) had asked NERC to provide data on the number of meters distributed so far by the DisCos under the programmes.

In a letter dated June 28 and signed by Adeola Samuel-Ilori, AECPF’s national coordinator, the group asked NERC to provide the information within seven days of receiving the letter pursuant to Section 4 (1) (2) of the FOI Act.

NAN reports that the NERC, in a letter signed by Ada Ozoemena, the commission’s secretary, said 508,439 customers have been metered so far under the MAP scheme of the federal government which was flagged off on October 30, 2020, with a target of six million meters by 2023.

The regulatory agency noted that 583,960 meters had been distributed under the MAP scheme, adding that 5,855 customers who had paid for prepaid meters were yet to get their meters.

On his part, Samuel-Ilori said the group had conducted a survey on customers who paid under the MAP scheme and were yet to get their meters.

He said the number was higher than the figures released by NERC, adding that the group would soon send FOI request to the various DisCos to get the detailed breakdown.

“It is necessary to have this data by our group to help fulfill one of the cardinal objectives, which includes monitoring the activities of power sector stakeholders as they affect the consumers,” Samuel-Ilori said.

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Nigeria Set To Host AIO Confab, As Tope Smart Emerges President

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By Sola Alabadan

All arrangements have been concluded for the forthcoming 47th Conference and Annual General Assembly of the African Insurance Organisation (AIO) holding in Lagos from September 4 to 8.
Chairman, Local Organising Committee Of AIO 2021, Mrs. Ebelechukwu Nwachukwu, who addressed journalists in Lagos on Tuesday, said since the conference could not hold last year due to the covid-19 pandemic, the AIO Secretariat LOC decided to hold it this year as a hybrid event to cater for those who will not be able to attend physically.
She emphasised that in planning the conference at this time, the organisers  have taken full cognizance of all the health protocols and restrictions on public gathering, hence the decision to make it a hybrid event.
To give further impetus to this decision, she pointed out that “we are limiting the number of physical attendees, while others are being encouraged to take advantage of the virtual conference to participate from their different locations. For physical attendees, all covid-19 protocols will be observed and implemented to the letter.”

She also commended the Commissioner for Insurance, Mr. Olorundare Thomas for working assiduously and liaising with the various ministries and agencies to ensure that the organisers get the full support from the government.
She equally informed that of the major highlights of the 47th Conference is that the immediate past chairman of the Nigerian Insurers Association and Group Managing Director of NEM Insurance Plc, Mr. Tope Smart will assume office as the next president of the pan African organisation for the next one year.
As Covid-19 pandemic had left very debilitating effects on many economies and there are efforts at addressing these challenges, participants at the 47th AIO conference would be contributing to discussions around how insurance can contribute to ongoing efforts at rebuilding economies seriously impacted by the pandemic.
The theme of this year’s conference is: Rebuilding Africa’s Economy: An Insurance Perspective.

The four other subtopics to address other contemporary issues affecting the insurance industry are:
The new normal: How leaders can reset for growth beyond covid-19
Regulation, innovation and the future of insurance

Harnessing the potential for growth and development in the Nigerian insurance market

AfCFTA and the African Insurer: Prospects and Opportunities

She added that the AIO Secretariat has assembled a strong faculty to deliver the different papers.
The resource persons are: Mr. Jakkie Cilliers, Institute of Security Studies, South Africa, Mr. Belhassen Tanat of Munich re, Mr. Yinka Sanni of Standard Bank Group, Mr. Tawiah Ben- Ahmed of Metropolitan Life Insurance, Ghana.
The AIO conference will also include the Life Seminar and all related activities.
The LOC chairman further stated that hosting the conference is significant to Nigeria, as it will enable her to showcase hee rich culture and hospitality, as well as provide a great opportunity to correct some of the misconceptions about Nigeria and her people.

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Banks’ CEOs Hold Emergency Meeting Over BDCs’ Forex Ban 

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Bank Chief Executive Officers on Thursday, held an emergency meeting on how to ensure compliance with the new forex directive of the Central Bank of Nigeria.

After the meeting, they spoke during a webinar organised to give an update on the banks’ preparedness to be the main channel of forex distribution, following the recent discontinuity of forex supply to the BDC operators by the CBN.

The executives assured the public that banks would make forex available to customers in accordance with the CBN’s directives.

After the last Monetary Policy Committee meeting, the Central Bank Governor, Godwin Emefiele, had ordered all Deposit Money Banks to set up teller points at designated branches across the country to fulfil legitimate FX request for personal travel allowance, business travel allowance, tuition fees, medical payments and SMEs transactions, among others.

Speaking at the webinar, the Group Managing Director/Chief Executive Officer, Access Bank Plc, Herbert Wigwe, said, “The banking industry as a whole was willing and ready to carry out this function. The banks have very strict compliance measures, in terms of verification and making sure that people who do apply are eligible.

“All Nigerian banks will be able to meet these requirements. If you look at all the branches nationwide, you will know that the banks have more than enough capacity to do this.”

He said if the banks saw any compliance issues, or people attempting to do things cunning, they would be reported to the CBN because the banks would ensure full compliance with the order.

The Group Chief Executive Officer, Guaranty Trust Holding Company Plc, Mr Segun Agbaje, while speaking on the capacity of the banks to meet the customers demand, said, “It is not only the CBN that has the ability to fund the market; the banks also have the resources to meet the demand, and we have agreed collectively that it will start immediately.”

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Labour Warns FG Against Electricity Tariff Hike 

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The Nigeria Labour Congress faulted plans to allegedly sell the Transmission Company of Nigeria, saying it will lead to an increase in electricity tariff.

The NLC President, Mr Ayuba Wabba, said this in a statement titled, “This Kite will not Fly’’ on Friday.

Wabba explained that instead of allegedly planning to sell the transmission company, FG should focus on improving the electricity supply.

He described the attempt to hand over the TCN to a few ‘privileged’ Nigerians as self-serving, obtuse, odious, morally reprehensible and criminal.

The NLC president said, “The TCN is a strategic economic asset of immense national security implications. This is because the TCN traverses all nooks and crannies of Nigeria.

“It will be wrong that our country will be deliberately exposed to an avoidable vulnerability and thus, provide an opportunity to others to restrain the Nigerian state.

“We apprehend that the planned sale of the TCN is only an attempt to further confound the people and concurrently raise electricity tariff. Unfortunately, this time around, Nigerians have had enough.

“The government cannot promise improved power supply to consumers by the planned sale of TCN. The under-the-table scheming as transparent privatisation cannot pass muster.

“It is an unsavoury narrative for our country, that even the privatised assets, which have survived the rapacity of the new owners, have been turned into unrealisable collaterals for unpayable loans.

“This constitutes a bone stuck in the throat of financial institutions and sundry creditors.”

Wabba explained that the plan would “fundamentally weaken the security of the nation and above all, deprive the people of their age-old investments in the commanding heights of the Nigerian economy”.

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