Nigeria and Russia would sign a Memorandum of Understanding on the production of pre-paid meter to bridge the gap that currently exists in the sector, the Abuja Chamber of Commerce and Industry (ACCI) said on Friday.
The President of the ACCI, Adetokunbo Kayode disclosed that the agreement would be between Russian electrotechnical company, Energomera and NT Power Nigeria Ltd.
According to a statement issued by ACCI, the preparations have reached the advanced stage to facilitate the signing of business cooperation between both parties.
“In the series of meetings and exchange of communication, we both agreed to sign the MOU to formally form the basis of the business relationship.
“During the Russia-Africa Business Forum which took place in Sochi in October, we concluded discussion to this effect.
“This will add value to electricity distribution and greatly reduce the sharp practices associated with electricity consumption and payment system.
“The NRBC is proud to play a pioneer role towards deepening our economic ties with a friendly nation like Russia.
“This has been made possible by the active facilitation of the Nigerian Ambassador to Russia, Prof. Steve Ugbah.
“The MOU signing event will take place during the Future Energy Exhibition holding in Lagos on Sunday Nov. 17,’’ Kayode said.
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