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The Presidential Metering Initiative has supplied more than 2.8 million electricity meters to electricity consumers in Nigeria as part of efforts to reduce revenue losses associated with unmetered consumption.
Minister of Power, Joseph Tegbe, disclosed this on Thursday in Abuja while delivering the opening address at the sixth Annual Conference of the Power Correspondents Association of Nigeria (PCAN).
The minister, who was represented by his Special Adviser on Administration and Projects, Martins Olajide, said the initiative was among several interventions introduced by President Bola Tinubu to address longstanding financial and infrastructure challenges in the electricity sector.
He said the President had also approved a N3.3 trillion intervention plan to settle verified legacy debts owed to electricity generation companies (GenCos).
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According to Tegbe, the government has raised N1.23 trillion under the plan, easing financial pressure on power generators and improving their capacity to pay for gas supplies and maintain generating plants.
Government invests in metering, grid infrastructure
The minister said the Rural Electrification Agency (REA) had also connected universities, hospitals and rural communities to solar power as part of efforts to expand electricity access.
He disclosed that construction had commenced on a new ultramodern National Grid Control Centre in Osogbo to replace the existing facility, which was built more than 60 years ago.
Tegbe said reliable and affordable electricity remained central to the government’s ambition of building a $1 trillion economy under the Renewed Hope Agenda.
According to him, the ambition must be driven by increased production rather than consumption, with dependable electricity serving as a critical requirement for industrial expansion and private sector investment.
- “Reliable and affordable electricity allows businesses to produce more and gives them the confidence to invest,” he said.
He added that electricity supply had a multiplier effect on other economic activities, making improvements in the sector essential to Nigeria’s industrial development.
The minister also identified vandalism as a major threat to the electricity industry, noting that attacks on critical infrastructure continued to disrupt power supply.
He said Tinubu had approved a coordinated anti-vandalism campaign involving relevant security agencies, backed by a strengthened legal framework to protect electricity assets, deter sabotage and ensure offenders were held accountable.
Government accounts for over 95% of new power infrastructure investment
In his keynote address, the Managing Director of FGN Power Company Limited, Kenny Anuwe, said Nigeria’s ambition of achieving a $1 trillion economy would remain difficult if the government continued to provide almost all new investments in the electricity sector.
- Anuwe said the government had invested more than N10 trillion in the power sector since privatisation, describing the intervention as critical to keeping the industry operational.
- However, he said the investment remained insufficient relative to the country’s electricity infrastructure needs and economic ambitions.
- According to him, the government currently accounts for more than 95% of new infrastructure investment in the sector, a development he said contradicts the original objective of privatising the electricity industry.
He argued that government should focus on providing the necessary infrastructure and creating favourable market conditions to attract private capital and enable investors to operate effectively.
The FGN Power Company chief said greater private sector participation was necessary to bridge the industry’s infrastructure and investment gaps.
NERC approves N30 billion for free meters
Earlier this week, Nairametrics reported that the Nigerian Electricity Regulatory Commission (NERC) has approved N30 billion for the third tranche of the Meter Acquisition Fund (MAF) to provide free electricity meters to unmetered Band A customers and accelerate metering for Band B customers.
The approval is contained in Order No. NERC/2026/121 on the Operationalisation of Tranche C of the MAF, which takes effect from November 2, 2026.
The initiative is part of the Presidential Metering Initiative, which aims to reduce Nigeria’s metering gap and improve electricity service delivery.
The funding will be distributed among the 11 electricity distribution companies (DisCos) based on their contributions to the Fund, with installations spread equitably across states within their franchise areas.
Under the Order, NERC directed DisCos to conduct transparent procurement processes involving eligible Local Meter Manufacturers and Assemblers (LMMAs) and Meter Asset Providers (MAPs) with verified meter stock.
