Billion-Naira Meter Distribution Initiative Funded By FG, States

Billion-Naira Meter Distribution Initiative Funded By FG, States....KINDLY READ THE FULL STORY HERE▶

The Federal Government, in collaboration with state governments, has secured a N100bn fund for the procurement of prepaid electricity meters as part of the Presidential Meter Initiative (PMI). This was disclosed by the Minister of Power, Adebayo Adelabu, during an address in Ibadan, Oyo State, which was monitored by our correspondent……CONTINUE READING 

Adelabu emphasized that the initiative is part of President Bola Tinubu’s efforts to close the significant meter gap in Nigeria. He noted that many electricity customers do not pay their bills because they feel they are being overcharged through estimated billing by power distribution companies. The introduction of prepaid meters, he said, would ensure greater transparency and fairness in billing.

“Out of the over 12 million electricity customers in Nigeria, only a little over five million are metered. We currently have a meter gap of over seven million, which is a self-inflicted problem,” Adelabu stated.

To address this issue, the government has launched the PMI, which includes the creation of a Presidential Metering Council. “The council, chaired by me with the Special Adviser on Energy to the President as the secretary, has been mandated to procure and install a minimum of two million meters annually over the next five years,” he explained.

Adelabu announced that significant progress has been made in securing funds for this initiative, with N100bn already allocated by the federal and state governments for meter procurement.

In addition, the World Bank is supporting Nigeria’s efforts by providing funds for nearly two million meters over the next two years through the Distribution Sector Recovery Programme (DISREP). Out of the $500m allocated to DISREP, $200m will be used specifically for meter procurement, with contracts already awarded and meters expected to start arriving soon.

He also mentioned that the sale of meters has been liberalized, allowing customers to purchase directly from vendors through the DisCos. However, he acknowledged that the cost of meters has increased due to fluctuations in exchange rates, with prices rising from N80,000 to around N120,000.

Adelabu assured that despite these challenges, efforts are being made to ensure the successful implementation of the meter distribution program, which is crucial for improving transparency and efficiency in Nigeria’s power sector.