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.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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