The Minister of Power, Mr. Adebayo Adelabu has hinted of the federal government readiness under to support CWG Plc and other local companies to bridge smart metering gap in the country.
Adelabu who stated this when he visited CWG in Lagos, said his visit was evidence that the federal government is ready to support CWG and other local industries.
He said, "We all know that we have a huge metering gap, and the government is determined to reduce this over time. I mentioned a couple of metering initiatives that we have all witnessed - the Meter Acquisition Fund, the Meter Acquisition Programme, the Mass Acquisition Programme, and lately, the Presidential Metering Initiative.
"So, we have a huge metering gap to fill. And the mandate of the PMI is to ensure that in the next five years, an annual acquisition of 2 million meters minimum must be carried out."
He challenged local meter manufacturing companies to play a major role in reducing the importation of everything needed to close the metering gap.
He expressed that local industries are germane to the sustainability of the industry.
He added, "And beyond this, for the sustainability of the industry, provision of meters for future use and maintenance of already installed meters, we need the local industry. The government has vowed to support the industry for several reasons.
"The number one reason is to reduce the pressure on the foreign exchange requirements for importation. The second is for job creation. When you add value here locally, you will employ our people and a lot of households will be provided for. For reasons of technology transfer, our people must be trained to be able to support the local industry. And lastly, the reason of human capacity development."
Earlier, the Chief Operating Officer of CWG, Mr. Afolabi Sobande, appreciated the Minister for taking time to visit the company, expressing its readiness to partner with the government in tackling challenges in the power sector.
He said "CWG has established itself as a trailblazer in the smart metering industry, dedicated to addressing the substantial metering gap in Nigeria. The company's cutting-edge technology not only enhances the accuracy of electricity billing but also promotes efficient energy consumption among consumers."
