More Metres for Nigerians as FG Deducts N700bn from Federation Account for Free Distribution

• N700 billion has been set aside by the federal government from the federation account to distribute free electricity meters
• Special adviser to the minister of power on strategic communications and media said PMI was on course to provide two million meters a year
• He disclosed that procurement had begun and that the government will deliver 1.3 million of the 3.2 million electrical meters

Legit.ng journalist Zainab Iwayemi has 5 years of experience covering the Economy, Technology, and Capital Market.

Bolaji Tunji, special adviser to the minister of Power on Strategic Communications and Media has said the Federal Government has allocated N700 billion from the federation account to carry out the presidential metering initiative's distribution of free power meters.

He stated that the PMI was on track to meet its goal of delivering two million meters annually in an interview with The PUNCH.

He disclosed that procurement had begun and that N700 billion had been set aside for the project.

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He said,

“The Presidential Metering Initiative is still on course. Two million meters every year, delivery of the first batch will start by the first quarter of next year. About N700bn provision has been made, and the money is ready.”

The government will deliver 1.3 million of the 3.2 million electrical meters promised under the World Bank Distribution Sector Reform Programme initiative this month, the special adviser added.

“The DISREP programme will commence this month,” he noted.

According to an examination of the Federal Account Allocation Committee meeting minutes that our correspondent was able to get between April and August, the government had, however, saved N420 billion from a monthly withdrawal of N100 billion.

The goal of the amount deducted from the monthly federation revenue prior to its distribution to the three tiers of government was to close the country's fifty percent metering gap.

The NERC has admitted that even with the installation of 3.03 million meters since the power sector was privatized in 2013, the nation's metering gap is still significant.

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In 2024, the metering rate was 46.14 percent, with 6.15 million of the 13.33 million registered consumers having been metered.

FG partners with companies to install metres

Legit.ng reported that through energy distribution firms (DisCos) and the Bureau of Public Enterprises (BPE), the federal government had contracts with businesses to supply and install 1,437,500 smart meters across Nigeria.

These businesses include Ningbo Sanxing Smart Electric Company Limited, Ningbo Sanxing Medical and Electric Company Limited, and Messrs XJ Group Corporation.

Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng

Source: Legit.ng