How Much Ministry Of Power Will Spend On Electricity

According to the 2016 appropriation bill, the expenditure also includes the sum of N45, 463,197 for fuelling of its generating plants.

Following the amalgamation of the three key ministries, the ministry of works, power and housing will be reportedly granted a huge chunk of the national budget, especially in the power sector.

The National Rural Electrification Agency has been allocated the sum of N9.7 billion, Electricity Management Services – N2.2 billion, National Power Training Institute – N1.3 billion, Nigeria Electricity Liability Management Limited – N3.3 billion, Nigeria Bulk Electricity Trading Plc. – N60.7 billion, the Transmission Company of Nigeria – N48.2 billion.

The Federal Road Maintenance Agency has been allocated the sum of N46.2 billion, N569,566, 969 has also been allocated to the same ministry for local and foreign travels.

The ministry has proposed 19 new electricity projects valued at N20.287 billion and 78 road projects estimated to cost N260.838 billion.

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On Thursday, January 7, Babatunde Fashola, the minister of power, works and housing, met with the local manufacturers of pre-paid meters in Abuja to address the problems of estimated billing and electricity theft.

According to a statement made by Timothy Oyedeji, the director of press of the ministry of power, the aim of the meeting was to re-focus attention on the need to rapidly roll-out meters in order to ensure that Distribution Companies charge electricity consumers only for energy they consume.

Oyedeji said that the report that was submitted to the meeting showed that there are over three million unmetered customers nationwide.

He stressed that government’s policy is to bridge the metering gap as quickly as possible with maximum impact on local manufacturing and employment potential fully harnessed.

Meanwhile, Sam Amadi, who served as the chairman of the Nigerian Electricity Regulatory Commission, has recently explained why electricity consumers will have to pay more from February 1 and why metering customers is very necessary.