By KUNLE KALEJAYE

THE Credited Advance Payment Implementation Scheme, CAPMI, has been officially launched for the first time in the Nigeria by the Power Holding Company of Nigeria, PHCN Eko Distribution Company, yesterday, in Lagos, to provide meters to consumers.

The scheme is meant for customers to pay up-front for the purchase of the meter.

The cost of the meter will be refunded to the customers through a billing process spread across for three years with 12 per cent interest.

It would be recalled that the Nigeria Electricity Regulatory Commission, NERC, the regulatory body of the power sector, had ordered all DISCOs in the country to commence the CAPMI scheme in a step to close the gap of meter shortage in the country.

However, customers will bear the cost of the accessories of the meter while vendors with registered account with DISCO will provide 24 hour  installation service to the customers on the day of payment.

According to the scheme, customers will pay N25,000 for single phase pre-paid meters and N35,000 for three phases meter.

EKO DISCO being the first to launch the scheme in the country, is partnering with two indigenous meter manufacturing companies in Nigeria to ensure that the scheme is a huge success.

Chief Executive Officer of EKO DISCO, OladeleAmoda, said the scheme was a short intervention programme meant to cushion the failure of existing free meter scheme under Monthly Year Tariff Order TWO, MYTO 2 which came into effect in June 2012.