Prepaid power meters will be purchased thanks to a successful N100 billion fundraising campaign spearheaded by the federal and state governments. Our correspondent reported on this news made by Minister of Power Adebayo Adelabu during a briefing in Ibadan, Oyo State, under the Presidential Meter Initiative (PMI) program.
President Bola Tinubu’s administration is working to address Nigeria’s meter deficit by promoting adequate metering and promoting greater openness. Adelabu noted that many customers are unwilling to pay bills due to unsatisfactory billing methods by power distribution firms. Currently, over five million of Nigeria’s twelve million electricity users are metered, with a shortage of over seven million meters.
President Tinubu has established the Presidential Meter Initiative and appointed a Presidential Meeting Council to address the meter gap. The group, chaired by Adelabu and supervised by the President’s Senior Advisor on Energy, aims to acquire and install at least two million meters annually over the next five years. With N100 billion available for meter purchases through state and federal resources, the government is committed to addressing this issue.
“The World Bank has already issued contracts for meter procurement, with meters set to be imported and assembled locally. We are balancing international and national competitive bidding processes. Meter importation will begin before the end of the year,” he added.
Adelabu highlighted the increased availability of meters, allowing Distribution Companies to sell them directly from suppliers, but acknowledged that exchange rate changes have increased meter costs from N80,000 to N120,000, emphasizing the need for continued financing.
