Nigeria recovers over $64m electricity debts from Benin, Niger Republics – Minister
Nigeria’s Minister of Power, Works and Housing, Mr. Babatunde Fashola, has said that the country recovered over $64.63 million debts from electricity supply to Benin Republic and Niger Republic.
Img : Nigeria recovers over $64m electricity debts from Benin, Niger Republics – Minister
Nigeria supplies electricity to the two countries in line with the agreement that they won’t dam the River Niger that sustains the hydro-power plant at the Kainji Dam in northern Nigeria.
Fashola, told the 21st monthly power sector operators meeting on Monday in Asaba, the Delta State capital, that the Nigerian Bulk Electricity Trader (NBET), would work out the modalities for distribution of the funds.
Fashola said that the government would make available a total of N37 billion to address the challenges in supply of meters to the customers.
A local newspaper, the Vanguard reported on Tuesday that the minister disclosed that the dispute over meters supply contract that started since 2003, was resolved by a Court approved settlement on Thursday, November 9, 2017.
“This means that there will be N37 billion available for meter supply by the contractor to DISCOs who want to partner and can reach their independent agreement with the contractor.
“While we await the regulations by NERC, a lot of preparatory work can be done,” he said.
In the area of rural electrification, Fashola said the REA completed the guidelines for the operation of the rural electrification fund that will help vulnerable groups and communities gain access to funding to support their electricity development programme.
According to him, the Rural Electrification Fund was created by Section 88 of the Electric Power Sector Reform Act (EPSRA) of 2005 to promote support and provide rural electrification access.
“The fund will provide a partial single payment capital subsidy and or technical assistance to eligible private Rural Power Developers, NGOs or communities to invest in options such as hybrid mini grids or solar home systems to scale up rural access to electricity,” he said.