Professor Osinbajo gave the
assurance on Saturday during the inauguration of a metering company in Onna
Local Government Area of Akwa Ibom State.
He said the Federal Government has
identified that most distribution companies could not generate
revenue through effective tariff collect due to their inability to
afford the cost of metering. The Vice President, however, hinted that
government has developed a policy to address the issue of metering in the power
sector.
He said, “We are going to have independent
metering companies. So a distribution company does not necessarily have also to
be a distributor of meters, it is now opened up.” Professor Osinbajo, who is in
Uyo, the Akwa Ibom State capital on an official visit, also announced that the
Federal Government has disbursed a total of N125m to Micro Small and Medium
Enterprises (MSMEs) in the state.
Elsewhere, he inaugurated a 350 million per
annum capacity syringe factory also located in the same local government area,
as part of events lined up to mark the 30th anniversary of the state. Professor Osinbajo was accompanied on the
official visit by the Minister of Budget and National Planning, Senator Udo
Udoma.
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