FG to acquire 3.5 million prepaid meters by year-end — Minister

3 months ago 11

By Oluyemi Ogunseyin

07 June 2024 | 3:52 p.m.

The Federal Government has announced plans to get nary less than 3.5 cardinal energy meters by the extremity of 2024, aiming to boost gross successful the financially strained powerfulness sector. Minister of Power, Adebayo Adelabu, said this astatine an vigor league organised by a section newspaper, BusinessDay, connected Friday. Last month, the authorities partnered with…

Minister of Power, Adebayo Adelabu said the Federal Government wants to get nary less than 3.5 cardinal energy meters by the extremity of 2024

The Federal Government has announced plans to get nary less than 3.5 cardinal energy meters by the extremity of 2024, aiming to boost gross successful the financially strained powerfulness sector.

Minister of Power, Adebayo Adelabu, said this astatine an vigor league organised by a section newspaper, BusinessDay, connected Friday.

Last month, the authorities partnered with the Nigerian Sovereign Investment Authority (NSIA) to money the acquisition of 10 cardinal meters for households and businesses, costing N1.325 trillion ($946 million) implicit 5 years.

“This twelvemonth 2 cardinal meters would beryllium procured positive the 1.5 cardinal meters being procured with World Bank support. We are going to person 3.5 cardinal meters installed by the twelvemonth end,” Adelabu said.

Most of the meters volition beryllium sourced internationally, with immoderate from section manufacturers owed to constricted capacity.

Inadequate metering has been a longstanding contented successful Nigeria, with astir 7 cardinal retired of 13 cardinal customers inactive without meters, starring to fixed, disputed charges. Last year, 57% of complaints were related to billing disputes, according to the country’s vigor regulator.

Competitive bidding for the archetypal 1.5 cardinal meters has been completed, with deliveries expected soon.

Additionally, the authorities volition merchandise N20 cardinal to energy organisation companies to metre ample users by September, pursuing tariff hikes successful April.

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