Business
Install Smart Meters To Improve Revenue, Discos Urged
The Association of
Electricity Consumers of Nigeria (AECN) has urged the managements of Electricity Distribution Companies (DISCOs) to adopt the smart metering model to reduce energy loss and improve revenue generation.
The National President of the association, Mr Gani Makanjuola, who made the appeal in an interview with newsmen in Lagos said the application of the new technology would improve the national electricity distribution and enhance economic development.
According to him, the desire to put such technology in place would further enhance the commitment and capabilities of the utility companies.
“Their required organisational changes, processes and technology enhancements would improve efficiency in electricity distribution through smart metering operations.
“Energy providers are implementing smart metering to drive down cost to serve, prolong the life of aging infrastructure, drive reliability and promote process efficiency.
“Energy providers’ deploying of smart meters required an Information Technology and organisational transformation that will prepare them for the future,’’ he said.
Makanjuola said the introduction and integration of smart metering technologies into the traditional utility operation model would bring about a change in how operational processes are organised.
He said that smart meter deployment provided an opportunity to save cost in operations following the review and realignment of core and support processes.
The association’s president also urged the Federal Government to compel the nation’s electricity distribution companies to patronise indigenous meter manufacturing companies.
He said the promotion of local content would encourage knowledge transfer, conservation of foreign exchange and jobs creation.
“The association appealed to the government to prevail on DISCOs to promote locally manufactured pre-paid meters.
“Government must ensure that the approved funds for the procurement of one million electricity meters should be purchased locally.
Makanjuola stressed that the meters should be purchased locally in the spirit of the local content initiative, adding that there was no need for government or the DICOS to engage in importation of meters.
“There is no reason why government or the companies will go outside the shores of the country to get a product that is readily available locally,” he added.
Also speaking, Balogun, Chairman, Momas Meter Manufacturing Company Ltd, Mr Kola Balogun, decried the poor patronage of locally-made electricity meters by government agencies.
According to Balogun, the revolution in telecommunications can be sustained in Nigeria through the promotion of this sector.
“The story of poor patronage is still the same in meter manufacturing where foreign firms are better patronised and recognised by electricity companies.
“ I can confidently say that we (the local manufacturers of meters) can meet the country’s supply needs if patronised,’’ he said adding that that employment opportunities would triple if local manufacturers get more support from government at all levels.
He said that the local content policy of the government would not succeed if home-made innovations were not adequately utilised.
He said that Nigeria’s power sector reforms would be meaningless if more considerations were not given to local manufacturers of electricity equipment.
“Nigeria has reached a stage where it is not supposed to be importing meters.
“In our company alone, we have a production capacity of one million to two million meters a month,” Balogun added.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.