The Minister of Power, Adebayo Adelabu, has affirmed the federal government’s dedication to supporting local meter manufacturers, aiming to enhance local content development and stimulate industrial sector growth.
Adelabu pledged his backing for domestic manufacturers during his working visit to MEMMCOL in Mowe, Ogun State, highlighting the government’s commitment to local production.
He stressed the need to support local producers by ensuring they have access to affordable financing and long-term capital.
Furthermore, he announced initiatives to implement laws ensuring local content in the power sector, as seen in the oil and gas industry, underscoring the essential need for all-encompassing backward integration and technical training efforts.
Speaking further, Adelabu explained that the Presidential Metering Initiatives plan to install 2 to 2.5 million meters yearly for the next five years.
He stated that the Initial focus is to close significant metering gaps, emphasizing the necessity for collaboration among all stakeholders.
Commending MOMAS for its contributions to bridging the metering gap, Adelabu stated,