Federal Government signs Memorandum of Understanding with CBN on Metre manufacturing.

   To encourage local manufacturers and boost the production sector in the country the Federal Government has signed a Memorandum of Understanding with the Central Bank of Nigeria, CBN, to make two local Metres Manufacturing Companies have access to credit facilities.

    The Minister of Power, Works and Housing Babatunde Fashola disclosed this during a special Town Hall meeting for youths in Abuja, noting that the two companies have been approved to commence mass production of electricity metres for the country.

Fashola promised that the current administration will do all it can to solve the problems identified and lay to rest the challenge of erratic power supply.

   He further revealed  that part of the items captured in the MOU is the agreement by the Central Bank to lend cash to the companies already mandated to commence local manufacturing of electricity metres.