Business
EEDC To Distribute 200,000 Pre-paid Meters
The Enugu Electricity Distribution Company (EEDC) says it has taken delivery of over 200,000 units of pre-paid meters for distribution to its customers.
Head, Communication Department of the company, Mr Chubvuemeka Ezeh said this in an interview with newsmen in Awka last Friday.
Ezeh said the company had enough metres to install for customers and appealed for calm and understanding as due process had to be followed in distributing them.
He said the investment of N10 billion into the metering project \vas a demonstration of EEDC’scommitmcnt to have all customers in the zone metered.
The communication officer said the amount was a far cry from what was required to metre its over 700,000 customers, adding that Distribution companies needed support to succeed.
“We are presently running our in-house metering process in which we have committed over N10 billion but that has not scratched the surface because of the numher of customers on the network.
“We do not have the enormous financial muscle to metre every customer at the same time but consciously and gradually, we are making progress.
“So far, we have tanker delivery of over 200,000 units of prepaid metres and as we push them out more are being supplied; we have a good number of metres to give out but we want customers to be patient.
“We are aggressively metering our customers and as a way of pursuing the project most utility vehilcles in our offices have been mobilised for the metering staff and in February, 4.000 units were installed.” he said.
Eze hreiterated that prepaid metres were free and warned customers on the EEDC network not to give anybody money to get the device as it would not yield any special benefit.
He urged those seeking installation of prepaid metres to apply through the EEDC website and stay on the queue until it was their turn.
Ezeh also said it was unfortunate that while the company was making effort to metre people, some customers were rejecting prepaid metres and others bypassing it.
He said the regulation in the industry did not allow customers to buy directly from prepaid metre manufacturers or dealers.
Ezeh said there was the need to review the tariff system in the power sector as the prevailing Multi- Year Tariff Order (MYTO) module no longer allowed for cost reflective billing.
“MYTO is not cost reflective; it was designed when dollar was about N198 or so but now dollar is about N360, what that means is that we buy power at N198 and sell at N360 depending on the prevailing rate of dollar.
“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.