Posted by Amarachi on Fri 21st Jul, 2023 - tori.ng
According to the Senate, such plan would lead to the loss of jobs and revenue in the country.
The Senate has asked the federal government to halt the proposal by the Transmission Company of Nigeria (TCN) to purchase electricity meters for the second phase of the national mass metering program (NMMP) outside the country.
According to the Senate, such plan would lead to the loss of jobs and revenue in the country.
While TCN is seeking to purchase the meters through a World Bank facility, the senate has asked the agency to negotiate with the African Export-Import Bank (AFREXIM) and the African Development Bank (AfDB) if the Word Bank would not encourage local manufacturing of meters.
The decision was reached following the adoption of a motion by Victor Umeh, senator representing Anambra Central.
Speaking at plenary, Umeh said;
“The World Bank has approved a loan of $155 million for the national mass metering program. The ongoing World Bank-funded NMMP Phase 2 seeks to promote foreign companies’ participation against competent and prequalified local meter manufacturers which will ultimately result in the loss of jobs and revenue.
“A deliberate policy to prioritize local manufacturing will catalyze job creation and economic growth. TCN on behalf of the World Bank closed the bidding advertisement on July 11, 2023, and further extended it to July 25, 2023, for the supply and installation of 1.2 million smart meters to the 11 distribution companies in Nigeria.”