1 month ago
3 ARTICLE AD
No fewer than 1.3 million meters will be delivered between December and the second quarter of 2025.
The Minister of Power, Adebayo Adelabu, disclosed this Tuesday at the ongoing Nigeria Energy Summit held in Lagos.
According to Adelabu, the first phase of the meters will arrive in Nigeria in December, while the second phase will be received in the second quarter of next year.
The minister said this was part of the Federal Government’s efforts to close the seven million and ensure transparency in billing.
“We have over 13 million customers, but just a little over 5 million are. Where is it done that over seven million customers will rely on estimated billing? It is fraudulent, it is not transparent, and it can never be acceptable in a sane country. But we cannot close this gap in one year.
“We are talking of over seven million meters to be imported, to be produced locally. The meter gap is a big elephant we must all join hands to fight and bring down.
“To address this, we launched the presidential metering initiative together with the Nigeria Governors Forum, and state governments are now part of this, supported by the World Bank Distribution Sector Reform Programme aimed to disburse 3.2 million meters, out of which I can confirm to you authoritatively that 1.3 million meters have been procured, contract signed and the payment made.
“We are expecting the first set of the meters to be delivered by December 2024, and the balance will be delivered by the second quarter of next year,” Adelabu stated.
He expressed optimism that the addition of 1.3 million meters would aid billing efficiency and reduce the disagreements between the power distribution companies and their customers.
From N1tn in 2023, Adelabu was confident the power sector could generate N2tn in 2024, saying this would be made possible by the ongoing reforms, especially the Band A tariff review.
He added that if the amount spent on diesel and petrol for independent power generation is going into the power sector, there would be up to N5tn yearly revenue to provide infrastructure, replace dilapidating transformers, and fix broken lines.
Adelabu maintained that the metering initiative would reduce estimated billing, enhance transparency, and improve sector liquidity by ensuring that energy consumers are billed.
“And you will see the readiness of Nigerians to pay if you can display transparency and fairness in your billing. They are ready to pay. They know that the alternative sources are far more expensive, even apart from the societal environmental pollution of noise,” he noted.
Adelabu noted that the integrated national electricity policy will be ready in the next four weeks when it will be submitted to the Federal Executive Council.
“As we look into the future, our focus remains on fully implementing the integrated national electricity policy. I will want you to get a copy of this policy. It’s available as a soft copy; we have sent it to all the major stakeholders in the industry. Please go through it.
“You can read through the executive summary for you to even know the content of this policy. It covers so many things, including local content, competency, and human capacity development in the industry, which is lacking. We don’t have enough pool of resources for what we are envisaging for this sector, but we must start building it from today. It covers everything, and when you add areas you want to put our attention to, please, let us do this within the next four weeks before we go to the Federal Executive Council.
“Once it is approved, it will be tough for us to make changes. It will be our guide to further transform the sector. So, with the 2023 Electricity Act, providing the ledger framework and the regulator setting the strategic direction, Nigeria is well-positioned to overcome the challenges that have historically plagued the electricity sector.
“The next steps will involve continued investment in infrastructure upgrades, capacity building of local stakeholders, and strengthening regulatory enforcement to ensure that the gains we have made are positively sustained,” he submitted.
