Integrated Resources Limited Metering Project

Proprietary know-how to NPL Advisors

Integrated Resources Limited (IRL) is a Nigeria Electricity Regulatory Commission (NERC) licensed Meter Service Provider (MSP) and recently got a “NO OBJECTION’ from NERC to be a Meter Asset Provider (MAP). MAPs are authorized to supply, install and maintain meters for Distribution Companies (Discos).

IRL is lined up to be MAP to three Discos, Ibadan, Eko and Kaduna. The first Disco will be Ibadan with 150,000 meters at an estimate of $18.5m. The other two Discos will likely increase the funding requirement to about $30m.

The MAP program is currently designed for a 10 year financing plan. However, recent developments show that electricity consumers will be allowed to finance anything from outright purchase to a 1year to 10year financing plan.

Currently, an escrow account system is proposed where the proceeds of sale from consumers amortizing the cost of their meters will be paid. This account will also be used to amortize loans taken by MAP.

Actual contracts are yet to be signed as the MAPs and Discos await the final license from NERC. Upon signing, financing will be required in a structure to match final structure of the project.

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