Regulatory Alerts2020-10-19 | 19 OCT 0200Framework for Financing of National Mass Metering Programme (NMMP)
The Central Bank of Nigeria (CBN) has implemented the National Mass Metering Program (NMMP) to address the metering gap in the Nigeria Electricity Supply Industry (NESI). The program aims to increase Nigeria's metering rate, eliminate arbitrary estimated billing, strengthen the local meter value chain, and support economic recovery by creating jobs. CBN offers financing to Electricity Distribution Companies (DisCos) and local meter manufacturers with specific restrictions, interest rates, and collateral requirements. Local meter manufacturers are eligible for term loans and working capital facilities, while DisCos can access funds for meter procurement and deployment. The program emphasizes local content and job creation, with strict guidelines and sanctions for infractions.