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Minister of Power Announces Disbursement of N20 Billion for Procurement of Meters, Reveals Deadline

Federal Government aims to address metering challenges and boost electricity distribution

Adebayo Adelabu, the Minister of Power, has revealed that the federal government plans to disburse a total of N20 billion to electricity distribution companies (DisCos) for the procurement of meters for unmetered Band A customers. The announcement was made during the BusinessDay Energy Conference, where Adelabu addressed the pressing issue of metering in the country.

During his speech, Adelabu shared that he had recently met with Alhaji Garba Sanusi, the Chairman of the Nigerian Electricity Regulatory Commission (NERC), and they had agreed on the allocation of N20 billion for metering purposes. The funds will be released to the DisCos to facilitate the procurement of meters for unmetered Band A customers. Adelabu assured the public that this disbursement would take place before the end of September.

In addition to this immediate action, the Minister of Power highlighted the government’s long-term plans for metering. He disclosed that the federal government has secured a $500 million World Bank loan to enhance electricity distribution in the country. As part of this initiative, the government aims to procure 3.5 million electricity meters by 2024.

Adelabu further explained that the government has established the necessary framework to facilitate the injection of 1.5 million meters into the power sector through the World Bank’s distribution sector recovery program (DISREP). He stated, “This year, two million meters are going to be procured, plus the 1.5 million meters from the World Bank. We are going to have 3.5 million meters installed by the year-end.”

The Minister of Power emphasized the government’s commitment to addressing the metering challenges faced by Nigerians. He assured the public that there will be an annual injection of two million meters, with a total of 10 million meters to be procured over the next five years.

Adelabu concluded by stating that the funding for this ambitious metering initiative is being finalized, signaling the government’s determination to improve the electricity distribution sector and provide accurate metering to consumers across the country.

Efecha Gold
Efecha Goldhttps://goldennationmultimedia.com/
Multimedia Expert, Journalist, and Singer.
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