The Federal Government has earmarked N700 billion for the distribution of free electricity meters under the Presidential Metering Initiative, according to Bolaji Tunji, the Special Adviser to the Minister of Power on Strategic Communications and Media.
Tunji disclosed this in a conversation with The PUNCH on Friday, emphasizing that the initiative aims to deliver two million meters annually, with the first batch expected by the first quarter of 2025.
“The Presidential Metering Initiative is still on course. Two million meters every year, delivery of the first batch will start by the first quarter of next year. About N700bn provision has been made, and the money is ready,” Tunji stated.
Additionally, he confirmed that 1.3 million meters would be distributed this December under the World Bank Distribution Sector Reform Programme (DISREP), which targets improving electricity distribution across Nigeria.
“The DISREP programme will commence this month,” he added.
The Federal Account Allocation Committee’s records reveal that between April and August, N420 billion was saved through monthly deductions of N100 billion from the federation account. This deduction supports efforts to bridge the country’s 50 per cent metering gap.
In May, the Minister of Power, Adebayo Adelabu, announced that the government would provide N75 billion in seed funding, while the Nigerian Sovereign Investment Authority committed to injecting N250 billion annually into the initiative. The programme will also leverage debt financing from various financial institutions to strengthen its impact.
Victor Ojelabi, Managing Director of the Abuja Electricity Distribution Company, noted that the PMI would help unlock approximately N1 trillion in revenue tied up in the electricity sector due to unmetered customers.
To support the programme, the Nigerian Electricity Regulatory Commission (NERC) approved N21 billion for the 11 electricity Distribution Companies to supply meters at no cost to consumers.
Despite installing 3.03 million meters since the power sector’s privatisation in 2013, Nigeria’s metering gap remains wide. As of 2024, 6.15 million of the country’s 13.33 million registered electricity customers are metered, leaving the metering rate at just 46.14 per cent.
The PMI and DISREP initiatives are designed to address these challenges, providing hope for millions of Nigerians waiting for improved electricity services.
