FG and States Have Raised N100 Billion for Meter Purchase.
The Federal Government, along with the states, has successfully raised N100 billion for the procurement of prepaid electricity meters. This initiative falls under the Presidential Meter Initiative programme, aimed at addressing the ongoing challenges in the electricity sector.
Minister of Power, Adebayo Adelabu, shared this information while speaking to broadcasters in Ibadan, Oyo State. His remarks were monitored by our correspondent, highlighting the government’s commitment to improving electricity access and transparency.
Adelabu emphasized that many customers are reluctant to pay their bills, believing they are being unfairly charged by power distribution companies through estimated billing. He stressed that proper metering would promote transparency in the billing process.
Currently, Nigeria has over 12 million electricity customers, yet only slightly more than five million are metered. This leaves a significant gap of over seven million meters, which Adelabu described as largely self-inflicted issues within the system.
To tackle this meter gap, the government has established the Presidential Meter Initiative and formed a Presidential Meeting Council to oversee its implementation. Adelabu serves as the chairman of this council, with the Special Adviser on Energy to the President acting as the secretary.
Read Also: NCC Sets Final Deadline For Linking NIN with SIM.
The council’s mandate is to procure and install a minimum of two million meters annually over the next five years. Adelabu reported that progress has been made in securing funding for this initiative, which will involve both federal and state government contributions.
As of now, N100 billion has been raised specifically for the procurement of these meters, marking a significant step forward in the initiative. This funding is expected to enhance the metering process and ensure more accurate billing for consumers.
Additionally, the World Bank has pledged to support Nigeria by facilitating the procurement of nearly two million meters over the next two years through the distribution sector recovery programme, further aiding the government’s efforts to improve electricity access.
