Business
‘Stop DISCOs From Importing Smart Meters’
An indigenous meter manufacturer, Mr Kola Balogun, has urged the federal government to stop electricity Distribution Companies (DISCOs) from importing smart meters into the country.
Balogun told newsmen in Lagos on Monday that local meter manufacturers have the capacity to meet consumers’ demand for metering.
Balogun, chairman, Mommas Engineering Meters Manufacturing Company Limited (MEMMCOL), urged DISCOs to embrace the Metering Assets Providers (MAPs) policy recently initiated by the Nigerian Electricity Regulatory Commission (NERC).
“We call on government to enact laws on patronage of Made-in-Nigeria goods under the MAPs policy.
“Nigerian-based meter manufacturing companies have increased their monthly capacity utilisation to over 350, 000,” he said.
Balogun said MEMMCOL alone had the capacity to produce 60,000 meters per month, while other companies could produce 20, 000 each per month.
He said the capacity of local meter manufacturers was being underutilised due to very low patronage from government and electricity boards.
“The basic function of an electricity board is the effective and constant distribution of electric power to the consumers, and not the distribution of estimated bills.
“Technically speaking, power transmission companies have enough electricity to supply to the consumers through the DISCOs, routed through power transformers.
“However, most current transformers in place cannot withstand the amount of power or energy required by the consumers,” Balogun said.
He noted that through increased capacity production to meet the local demand, meter manufacturers could employ millions of Nigerian youths and professionals.
Balogun called on the NERC to accredit and issue licences to more companies in order to flood the market with enough and quality smart meters.
“Investors here and abroad will begin to look into the power sector to stock it with much more funds than we presently have.
“We can migrate in progression to include the manufacturing of power transformers of higher standard and quality than what is obtainable abroad.
“If we start with meters now, we will get to transformers soon. Let the federal government throw the first shot, the local manufacturers have all hands on deck to deliver.
“Our management, professionals and team of engineers are poised to receive government delegations for a facility tour of manufacturing facilities at our ultra-modern factory,” he added.
Balogun said that MAPs policy would bridge the widening metering gap in the electricity supply industry.
He said the new regulation on metering would be a great relief for electricity consumers as it would enable them to get meters as quickly as possible.
“Let’s hope that the Discos will be willing to partner MAPs because metering is part of what they hold as their strength to run the DISCOs.
“Let’s hope that it will be easier for the Discos so that they can face the primary responsibility of providing electricity for the consumers.” Balogun said.
Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
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