Kayode Tokede
The Minister of Power, Mr. Adebayo Adelabu, has announced the federal government’s commitment to supporting local companies, including CWG Plc, in bridging the smart metering gap in the country. Adelabu made this statement during his visit to CWG in Lagos, emphasizing that the government stands ready to provide assistance to CWG and other similar industries.
Highlighting the significant metering gap in Nigeria, Adelabu mentioned several metering initiatives implemented by the government, such as the Meter Acquisition Fund, Meter Acquisition Program, Mass Acquisition Program, and the recent Presidential Metering Initiative. He emphasized the government’s determination to reduce the metering gap over time and set a target of acquiring a minimum of 2 million meters annually for the next five years.
Adelabu also urged local meter manufacturing companies to play a pivotal role in reducing the country’s reliance on meter imports. He recognized the importance of local industries in ensuring the sustainability of the sector and addressed the benefits of supporting them. These benefits include reducing pressure on foreign exchange requirements, creating job opportunities, facilitating technology transfer, and enhancing human capacity development.
During the visit, Mr. Afolabi Sobande, the Chief Operating Officer of CWG, expressed gratitude to the Minister for his visit and conveyed the company’s willingness to collaborate with the government in addressing power sector challenges. Sobande highlighted CWG’s position as a leading player in the smart metering industry, dedicated to bridging the significant metering gap in Nigeria. He emphasized their cutting-edge technology, which not only improves the accuracy of electricity billing but also promotes efficient energy consumption among consumers.