The Nigerian Electricity Regulatory Commission (NERC) has adjusted the price of a single phase meter from N58,661.69 to N81,975.16.

It also adjusted the price of three phase meter from N109,684.36 to N143,836.10.

The adjustments were contained in the  ORDER NO: NERC/2024/040 that the commission’s Chairman, Engr. Sanusi Garba and Commissioner Legal and Licensing Compliance, Barrister Dafe Akpeneye issued on Monday.

The title of the order is “The  deregulation of meter prices for meters deployed under the Meter Asset Provider Scheme.”

The Chairman and Commissioner said the Meter Asset Provider and National Mass Metering Regulations (the “Regulations”) provide for the metering of end-use customers of successor electricity distribution licensees (“DisCos”). Section 8(1 )(c) of the Regulations provides that “the cost of single phase and three phase meters for MAPs, inclusive of all other associated costs of installation and warranties shall continue to be at the regulated rates approved by the Commission”.

NERC said the Meter Asset Providers (MAPs) and Local Meter Manufacturers Associations (LMMAs) have requested a further review of meter prices in consideration of significant changes in NGN/USD foreign exchange rate and inflation rate since the last price review in September 2023 and the significant changes in these macroeconomic variables has constrained their ability to supply meters at the approved regulated price.

Garba and Akpeneye said the  commission has noted the need for the efficient pricing of meters to respond more quickly to changes in macroeconomic parameters, particularly exchange rates.

According to them: “The Commission has further taken cognisance of the constraints/challenges faced by MAPs and LMMAs and therefore approved the deregulation of prices of meters deployed under the MAP scheme with effect from 1 May 2024.”

NERC said, “the commission hereby orders: with effect from 1 May 2024, all prices of meters under the MAP scheme shall be determined through a competitive bidding process with customers provided with a choice of authorised vendors.

“The combined effects of sections 8(1 )(c), 8(1 )(d), 16(1 )(h), 31 and 32(1 )(b) of the Regulations on the regulated pricing of meters deployed under the MAP scheme is hereby derogated.

“The cost of prices of meters deployed under the MAP scheme is HEREBY DEREGULATED to enable end use customers acquire meters from MAPs.”

NERC noted that the choice is based on competitive open market prices determined from transparent bidding frameworks.

The order noted that all MAP permits holders are henceforth eligible to provide services and transact for the provision of meters and metering services with any DisCo in the Federal Republic of Nigeria with their existing permit.

According to the commission, the lifting of the restriction on permitting to operate in all DisCos is subject to the mandatory requirement for MAPs to comply with the associated DisCo specific requirements/specifications.

The commission added that all DisCos shall ensure the effective and seamless integration of smart meters deployed by MAPs with the DisCo’s head-end systems and meter data management systems.

It further noted that all DisCos shall provide a publicly accessible online portal on their website where prospective MAPs can view the DisCo’s technical specifications and commercial terms for participation as a MAP within its network area.

Garba and Akpeneye said all  DisCos are required to conduct a thorough test and confirmation of specifications for new meters proposed by a prospective MAP and concluded no later than 20 working days from the date the proposed MAP fulfils all the requirements specified on the online portal to participate within its network area.

…Govt to foot medical bills of the wounded

…Awards scholarships, jobs to bereaved

…Community wants neighbourhood watch strengthened

Governor of Enugu State, Dr Peter Mbah, has described the recent attack that resulted in the death of four natives in Nimbo as unacceptable to his administration, vowing that enough was enough, as government would track down and bring the attackers to book.

He described the attack as a collective tragedy to the entire state, assuring that the government would work with community and security stakeholders to strengthen security not only in Nimbo, but also the entire Uzo Uwani LGA.

This was even as the Nimbo community called for the strengthening of its Forest Guards and Neigbourhood Watch, stressing that their attackers always came from neighbouring states, taking advantage of the remoteness of their community.

An enraged Mbah spoke during a visit to Nimbo community on Monday, accompanied by the state’s Commissioner of Police, Mr. Kanayo Uzuegbu; State Director, State Security Services, Theresa Egbunu; Garrison Commander, 82 Division, Nigerian Army, Enugu, Brigadier General Murtala Abu; and Coordinator of Enugu State Forest Guards, Matthew Obodoechi.

He said: “Let me assure you that enough is enough. I don’t think that we would allow our hospitality to be taken for granted. We expect people, who have come to mingle with us, to also play by the rules and laws of our land.

“I don’t think that we really do have any reason to exist as government if we cannot guarantee the safety of our people because the primary purpose of government is to guarantee the security and the welfare of its citizens. So, a situation where our people would go to bed with their two eyes open must end. And it must end immediately.

“I want to assure you that we are going to deploy everything within our powers; and I mean everything: the law, the forces, everything that is necessary in order for us to guarantee your security.

Governor Peter Mbah addressing the people of the affect community during his visit on Monday.

“We are truly pained by such dastardly killing by people who trespass, come into the locality of our people, who are living quietly within their environment, and open fire on them. That is inexcusable and unacceptable, and we are going to identify, track these culprits, pursue them wherever they are, capture them, and ensure that we bring them to justice.”

Governor Mbah, who had earlier visited and condoled each of the bereaved families before holding an interactive session with the community leaders and members, promised to work on their recommendations and requests for representation in government and strengthening of their local security resources.

“We have listened to you on the issues you raised about making sure that the people of Nimbo are integrated into government. We are going to do just that. Your voice has been heard.

“I also would want to inform you that we shall not abandon you in this time of need. Going forward, the government will be responsible for the victims who are being treated, including those going back to the orthopaedic hospital. We will bear the cost.

“All the survivors of victims of this dastardly act, we are going to ensure that their suffering is abated. We are going to make sure that the kids do not suffer anymore than they have already suffered by losing a father. We will ensure that they go to school through our scholarships and those who need job, we are going to give them job.

“But more importantly, let it be known that enough is enough, and we will never have to go through this again,” Mbah said.

Meanwhile, speaking on behalf of the community earlier, the President-General of Nimbo, Mr. Clement Akachukwu, said their attackers had preyed on their community for decades due to the remoteness of Nimbo.

While thanking Governor Mbah for his prompt response, he called on the government to strengthen Nimbo Neighbourhood Watch and Forest Guards to complement the security agencies. He called for the inclusion of the community in government appointments, as they had no voice in government.

“You can see for yourself that Nimbo is living at the outskirt of Enugu State. We live directly in the border area, and they come in any time and kill and go back.

“It has repeated itself again and now, not only one person, but four were killed. About two months ago, they kidnapped a number of people, but they were rescued, although the kidnappers escaped. It has been like this for years, even before I was born.

“So, we only need one thing. We have community vigilantes. If only they can be strengthened and if more can be brought and paid well to do the work because we need 24-hour vigilance here. These attackers know all the routes in the villages and bushes so well. We need our local vigilantes to be strengthened because they can match them. The width and length of our farmlands are so massive” Akachukwu stated.

The Central Bank of Nigeria has barred some microfinance banks, including Moniepoint, Opay and Kuda, from opening new accounts and accepting new customers over allegations that they were being used to funnel cryptocurrency and manipulate the naira’s value.

Sources confided in The Gazette anonymously since they were not authorised to speak publicly on the matter, asserting that the CBN deemed the new-account-ban necessary to curb money-laundering activities which have seen the naira again plunge against the dollar in recent days.

The naira, as of Monday evening, traded at N1350 against the dollar, which is a regression against the steady climb that the Nigerian currency has made over the past few weeks as it traded to N950 in early April.

“Hello! We’ve temporarily paused new sign-ups on our platform,” Moniepoint wrote in a message on its platform for intending customers on Friday. “This means that you’ll be unable to open a new account at the moment. We apologise for any inconvenience this may cause.”

Following the drastic depreciation of the naira in February which nearly exchanged at N2000 to a dollar, CBN, in collaboration with anti-graft commission, EFCC, cracked down on Binance and detained its executives Tigran Gambaryan, a U.S. citizen and British-Kenyan Nadeem Anjarwalla over accusations of naira manipulation.

The Nigerian government demanded that Binance release the names of its top 100 users and their transactions to negotiate the release of the detained executives.