…Says N75b has been committed to Presidential Metering Initiative to bridge meter gap
By Adeyinka Adeniran
The Federal Government said it is addressing the root cause of problems bedeviling the power sector in order to find a lasting solution.
The Minister of Power, Chief Adebayo Adelabu gave the hint at the weekend while fielding questions from journalists shortly after meeting with some party stakeholders at the Oyo state APC state Secretariat, Oke Ado, Ibadan.
The Minister said President Bola Tinubu is ready and showing the needed determination to change the face of things in the power sector.
He noted that the President is more concerned with all the problems associated with all the value chains of the sector, noting that the recent improvements in the sector is not the eldorado been targeted by the administration.
He said the target of the President Tinubu led government is a situation whereby every Nigerians will be able to enjoy adequate, stable, functional and reliable power supply.
Adelabu said “I want to use this opportunity to reassure Nigerians that the government of President Bola Tinubu is ready and determined to change the face of things in the power sector, to change the game in the power sector which is why we are addressing the root cause of the power sector problems.
“We are addressing all the problems associated with all the segments of the power sector value chain, from gas supply to generation, to transmission, to distribution and to the customers themselves. There are a lot of things that we are doing that Nigerians will soon start seeing.
“Yes, there are pockets of improvements here and there, but that is not where we are going. We are still going to eldorado whereby every Nigerians will be able to enjoy adequate, stable, functional and reliable power supply.”
He appealed to Nigerians to exercise patients noting that the temporary pains would soon turn gains.
“But, let me tell you that, it is a journey and not a destination. We will start seeing this improvement as we are seeing now to improve because when you are repairing, you will still suffer some damages, you will still suffer some pain.
“When they were repairing Lagos-Ibadan Expressway, for 10years, people were still having traffic jam, and been held up in serious traffic until they finished.
“So, while we are repairing, people must help us bear the little pain that will come with it, but at the end of the day we will make gains. For you to make an omelet, you must break the egg. This is the period of breaking the egg, and very soon, we will start eating our omelet.
“I am determined to solve the problems in the power sector and Nigrians will start singing our good songs very soon”, he added.
Speaking on effort to address the meter gaps in the country, the Minister said President Tinubu has set up Presidential Metering Initiative (PMI) and committed a seed capital of about N75billion to ensure that atleast 2million meters are installed for Nigerians within the next five years.
He said the PMI will harmonise all other mass metering initiatives under one umbrella and wil ensure that the project takes off immediately.
He said “I once announced that to bridge the meter gap, Mr President has taken it seriously. And I am telling you that he has formed a Presidential Metering Initiative (PMI) which he has made me the Chairman of the PMI.
“The PMI will harmonise all other mass metering initiatives under one umbrella and we ensure that the project takes off immediately. We already have a seed capital of N75billion with which we are still going to raise some more capital to ensure that we buy meters in bulk.
“We have a plan for the next five years that, at least a minimum of two million meters shall be installed in our homes, offices and industries over the next five years so that the close to eight million gaps that we have today will be a thing of the past by the time this administration is rounding off, I assure you that.”
