As part of its readiness to kick start Meter Asset Providers (MAP) scheme approved by the Nigerian Electricity Regulatory Commission (NERC) within the coverage area of its partner Distribution Company, Abuja Electricity Distribution Company(AEDC), Mojec Meter Assets Management Company, a subsidiary of Mojec International Limited has entered into a partnership with some banks on retail financing which would offer electricity consumers access to prepaid meters.
MAP is a scheme approved by the Nigerian Electricity Regulatory Commission (NERC) through a regulation meant for the provision, supply, installation and maintenance of end-user meters by Meter Asset Providers with a view to fast track a closure of the metering gap and end estimated billing in Nigeria.
This was made known during a press launch to commence the scheme in Abuja on Friday, May 10, 2019 between Mojec, AEDC and the partner banks which include Polaris Bank, First Bank, Wema Bank, Unity Bank, Jaiz Bank, Keystone Bank, Zenith Bank, Sterling Bank and First Option Micro Finance Bank.
Speaking at the launch tagged “Get Metered By MAP’, the Managing Director/ Chief Executive Officer, Mojec International Limited, Ms. Chantelle Abdul stated that the company is fully ready to bridge the metering deficit with MAP within the AEDC and other coverage areas by ensuring that electricity consumers get access to top quality, smart electricity meters.
“Mojec is fully on ground to provide high-end quality smart, pre-paid meters to customers within these areas. With this partnership, we believe that electricity consumers who have been angling to get smart meters will now heave a sigh of relief. The burden associated with getting meters would also be lifted while problem associated with estimated billings will come to an end. In like manner, Abuja Electricity Distribution Company (AEDC) would not experience any form of energy theft. We are confident that this partnership would find lasting solution to one of the energy challenges confronting us as a nation.
“Let me also state that we have the production capacity to meet the demands of electricity consumers in these targeted coverage areas” she noted.
She further stressed that the partnership with AEDC and partner banks was to consolidate on its initial launch to ensure that electricity consumers in specific coverage areas get the opportunity to have access to meter through the financing scheme provided by the banks.
Also speaking at the launch of the financing scheme, the Chairman/CEO of Nigerian Electricity Regulatory Commission, NERC, Professor James Momoh, lauded Mojec for taking the lead in driving the process that ensures that electricity consumers are relieved of the untold hardship brought about by estimated billing which is clearly evident in its role towards the full implementation of the MAP Scheme that allows all customers easy and direct access to meter assets.
Momoh commended Mojec International for their aggressiveness in the procurement process which had seen the company become a big partner with virtually all the DISCOs in the implementation of the MAP scheme. He noted that the commission would be active in playing its role by ensuring that all parties involved in the transactions have their obligations fulfilled.
In his remarks, the Managing Director of Abuja Electricity Distribution Company (AEDC), Mr. Ernest Mupwaya expressed confidence in the ability of Mojec international to deliver smart prepaid meters to consumers in the franchise area adding that AEDC would actively play its role to make the process easy and user-friendly for consumers.
Mupwaya stated that the retail financing scheme introduced by Mojec International to ensure the implementation of MAP remains the best, affordable and cost effective option to make meter accessible to consumers.
Mupwaya further disclosed that the launch of financing scheme is another visible and bold effort aimed at closing the metering gap that exist in the Nigerian Electricity Supply Industry.
“The issue of meter, as you know, has been a frontline issue in the industry because of the critical role it plays in the recovery of cost for the sector. With this bold move courageously championed by the NERC, the vexed issue of estimated billing would have been adequately addressed” he added.
“On our part, we have provided all the back-end facilities to make the process very simple and user friendly. Our integrated Commercial Management System (InCMS), which was commissioned recently by the NERC Chairman has further simplified the process associated with this project.