{"id":92547,"date":"2023-07-20T20:56:12","date_gmt":"2023-07-20T19:56:12","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/155m-world-bank-loan-senate-seeks-protection-for-domestic-manufacturers-of-metres"},"modified":"2023-07-20T23:34:01","modified_gmt":"2023-07-20T22:34:01","slug":"155m-world-bank-loan-senate-seeks-protection-for-domestic-manufacturers-of-metres","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/155m-world-bank-loan-senate-seeks-protection-for-domestic-manufacturers-of-metres","title":{"rendered":"$155m World Bank loan: Senate seeks protection for domestic manufacturers of metres"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The Senate on Thursday sought protection for local manufacturers of metres following the approval of a $155 million World Bank loan for the National Mass Metering Programme (NMMP) of the Federal Government.<\/p>\n

The resolution was a sequel to the motion sponsored by Senator Victor Umeh (LP, Anambra Central) during plenary.<\/p>\n

Presenting the motion, Umeh noted that it is the duty of industry procurement regulators in every developing economy to protect local manufacturers \u201cand would only try to augment importation of goods and services where there is a clear-cut gap between local production and consumption.\u201d<\/p>\n

He said: \u201cMembers of Association of Metre Manufacturers of Nigeria, AMMON, are capable of producing world-standard smart metres; hence, the Transmission Company of Nigeria, TCN, and the Nigerian Electricity Regulatory Commission, NERC, under Phase 1 of the Mass Metering Programme of the federal government, issued the association, after a competitive bidding process, a \u2018Letter of No Objection\u2019 to award four million metres in 2022.<\/p>\n

\u201cThe Central Bank of Nigeria, also in 2020, undertook to fund the National Mass Metering Programme, NMMP, Phase 1, but after eight months of awards to local manufacturers, withdrew funding, which affected the workability of the programme.\u201d<\/p>\n

Umeh, who revealed that the World Bank has approved a $155 million loan for the National Mass Metering Programme, is, however, worried that \u201cthe ongoing World Bank-funded NMMP Phase 2 seeks to promote foreign companies\u2019 participation against competent and pre-qualified local metre manufacturers [which] will ultimately result in the loss of jobs and revenue.\u201d<\/p>\n

The lawmaker further informed that TCN, on behalf of the World Bank, closed the bidding advertisement on July 11, 2023, and further extended it to July 25, 2023, for the supply and installation of 1.2 million smart metres to the 11 distribution companies in the country.<\/p>\n

The bidding criteria, according to him, could only be satisfied by foreign companies and had totally marginalised and eliminated the participation of the 35 local metre manufacturers.<\/p>\n

If allowed to continue, he stressed, it would be disastrous to AMMON members, who have invested billions of naira in the sector and currently employ 10,000 direct workers and over 30,000 indirect workers.<\/p>\n

In its resolutions, the Senate urged the Federal Government to immediately suspend the TCN Tender for the World Bank-funded NMMP Phase 2. The aim is to undertake a comprehensive review of the procurement criteria to prioritise local manufacturing and assembling in line with the local content and backward integration policies that catalyse focal capacity building, employment generation, and economic growth for Nigeria.<\/p>\n

The Senate also asked TCN and other stakeholders to negotiate and engage the African Export-Import Bank, AFREXIM, and the African Development Bank, AFDB, for alternative loans if the World Bank loan conditions do not favour local economic growth at this critical time of massive unemployment and devaluation of the naira.<\/p>\n

The Senate further called for the assessment of the CBN intervention funds for members of AMMON with a view to further developing the sector and boosting the nation\u2019s economy.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The Senate on Thursday sought protection for local manufacturers of metres following the approval of a $155 million World Bank loan for the National Mass Metering Programme (NMMP) of the Federal Government. The resolution was a sequel to the motion sponsored by Senator Victor Umeh (LP, Anambra Central) during plenary. Presenting the […]<\/p>\n","protected":false},"author":84,"featured_media":92545,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[1570,2140,10907,254,53,580],"class_list":["post-92547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-nigeria-2","tag-metre","tag-nigeria","tag-senate","tag-world-bank"],"yoast_head":"\n$155m World Bank loan: Senate seeks protection for domestic manufacturers of metres - Nigeria<\/title>\n<meta name=\"description\" content=\"The Senate on Thursday sought protection for local manufacturers of metres following the approval of a $155 million Worl ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/155m-world-bank-loan-senate-seeks-protection-for-domestic-manufacturers-of-metres\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$155m World Bank loan: Senate seeks protection for domestic manufacturers of metres\" \/>\n<meta property=\"og:description\" content=\"The Senate on Thursday sought protection for local manufacturers of metres following the approval of a $155 million Worl ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/155m-world-bank-loan-senate-seeks-protection-for-domestic-manufacturers-of-metres\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-20T19:56:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-20T22:34:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/07\/sm_1689876117.725984.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1732\" \/>\n\t<meta property=\"og:image:height\" content=\"1014\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/155m-world-bank-loan-senate-seeks-protection-for-domestic-manufacturers-of-metres#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/155m-world-bank-loan-senate-seeks-protection-for-domestic-manufacturers-of-metres\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"$155m World Bank loan: Senate seeks protection for domestic manufacturers of metres\",\"datePublished\":\"2023-07-20T19:56:12+00:00\",\"dateModified\":\"2023-07-20T22:34:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/155m-world-bank-loan-senate-seeks-protection-for-domestic-manufacturers-of-metres\"},\"wordCount\":504,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/155m-world-bank-loan-senate-seeks-protection-for-domestic-manufacturers-of-metres#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/07\/sm_1689876117.725984.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"metre\",\"Nigeria\",\"senate\",\"world bank\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/155m-world-bank-loan-senate-seeks-protection-for-domestic-manufacturers-of-metres#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/155m-world-bank-loan-senate-seeks-protection-for-domestic-manufacturers-of-metres\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/155m-world-bank-loan-senate-seeks-protection-for-domestic-manufacturers-of-metres\",\"name\":\"$155m World Bank loan: Senate seeks protection for domestic manufacturers of metres - 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