Nigeria’s Minister of Trade and Investment Olusegun Aganga has expressed optimism that the implementation of accurate metering policy by the weights and measures department of the ministry will save about 755 billion naira (US$4.7 billion) monthly for the country.
The private Punch newspaper Tuesday quoted the minister as saying the effective implementation of legal metrology would ensure proper inspection, verification and certification of meters.
In addition, it will enhance the billing systems for electricity, water, hydrocarbon and telecommunications.
Mr. Aganga explained that inaccurate measuring system was currently making the country to lose the huge amount of 755.72 billion naira monthly.
The minister said it was the need to ensure accurate metering and measurement across all the sectors of the economy that prompted President Goodluck Jonathan to re-invigorate the Weights and Measures Department.
He said the department had been re-positioned to effectively supervise and monitor weighing and measuring devices used in trade transactions in all sectors of the country’s economy.