Adebayo Adelabu, minister of power, says 1.3 million meters will be delivered between December and the second quarter (Q2) of 2025.
Adelabu spoke on Tuesday at the ongoing Nigeria Energy Summit held in Lagos.
The minister said 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.
According to Adelabu, the procurement of meters was part of the federal government’s efforts to close the seven million meter gap and ensure transparency in billing.
“We have over 13 million customers, but just a little over 5 million are metered. 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,” he said.
“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.”
He also said he is optimistic that the addition of 1.3 million meters would aid billing efficiency and reduce the disagreements between the power distribution companies and their customers.
‘N2TRN REVENUE IN 2024’
Adelabu said he is confident the power sector could generate N2 trillion in 2024 as against the N1 trillion in 2023.
According to the minister, the ongoing reforms, especially the Band A tariff review, will boost revenue.
He also said if the amount spent on diesel and petrol for independent power generation is going into the power sector, there would be up to N5 trillion yearly revenue to provide infrastructure, replace dilapidating transformers, and fix broken lines.
Also, Adelabu said 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,” he said.
“They are ready to pay. They know that the alternative sources are far more expensive, even apart from the societal environmental pollution of noise.”
‘INTEGRATED ELECTRICITY POLICY READY IN 4 WEEKS’
Adelabu said the integrated national electricity policy will be ready in the next four weeks when it will be submitted to the federal executive council.
He employed all stakeholders to get a copy and provide comments and questions.
“As we look into the future, our focus remains on fully implementing the integrated national electricity policy,” the minister said.
“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 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.”
He said the next steps will involve continued investment in infrastructure upgrades, capacity building of local stakeholders.
Adelabu said there would also be strengthened regulatory enforcement to ensure that the gains made are positively sustained.
SOURCE: TheCable