In a move to make pre-paid meters available to electricity consumers, Port-Harcourt Electricity Distribution Company (PHED) and Ecobank Nigeria Plc have signed a special agreement whereby their consumers can secure finance for the acquisition of prepaid meters under the Credited Advanced Payment for Metering Implementation (CAPMI) scheme.
The scheme is a special programme initiated by the Nigerian Electricity Regulatory Commission, (NERC), that allows willing electricity consumers to make payment to distribution companies for pre-paid meters and such payment is then refunded back to the consumers through deductions from the monthly electricity bills.
The scheme being introduced by Ecobank, one of the commercial banks, under the name CAPMI Credit, avails willing customers the opportunity of securing microfinance for pre-paid meter acquisition from PHED.
While signing the agreement on Thursday in Port-Harcourt, Rivers State, Executive Director, South-South and South-East, Ecobank, Mr. Kingsley Umadia, stated that CAPMI Credit was designed to help bring solution to the huge metering gap that was currently being experienced in the power sector.
Umadia noted that the acquisition of pre-paid meter would also stop the estimated bill, noting that electricity had been known to be a driver of economic prosperity.
He said that Ecobank decided to partner with PHED to help actualize the development of the sector for the country’s economic growth, adding that no country would function well without effective power.
In his own part, the Chief Executive Officer, PHED, Mr. Jon Abbas, disclosed that the partnership with Ecobank was necessary as the bank had been a leading partner in service provision to customers.
Abbas stated that the deal was struck in order to achieve the company’s vision of being a leading utility in Nigeria.
According to him, no country can function effectively without power, hence we work to ensure that power in the country is stable.
The Assistant General Manager, Customer Services, PHED, Mr. Godwin Orovwiroro, while making presentation on the scheme, explained that CAPMI Credit would run alongside the regular CAPMI scheme that requires customers to make cash payment for meters.
Orovwiroro further explained that all categories of meters including single phase and three-phase were accommodated in the Ecobank finance scheme.
‘’Under CAPMI, electricity distribution companies repay the cost of prepaid meters back to customers who purchase them at 12% of the cost,” he said.
PHED is the electricity distribution company that serves four states in the South-South namely Akwa Ibom, Bayelsa, Cross River and Rivers States.

Rivers State Dep Gov, Engr. Tele Ikuru (centre) listens as Commissioner for Commerce and Industry, Barr. Chuma Chinye, explains functions of some equipment for distribution (2).