The Federal Authorities has secured about N700 billion from the Federation Account Allocation Committee (FAAC) to finance the deployment of 1.1 million electrical energy meters throughout Nigeria by December 2025.
The Minister of Power, Adebayo Adelabu, introduced this on Tuesday in Lagos on the 2025 Nigerian Vitality Discussion board (NEF), themed “Powering Nigeria via Funding, Innovation, and Partnership”, in line with the Information Company of Nigeria (NAN).
In response to the minister, the initiative is a part of the Presidential Metering Initiative (PMI), a complete plan to shut Nigeria’s metering hole, strengthen income assurance, and promote transparency within the electrical energy provide chain.
He mentioned the PMI enhances the three.2 million meters being procured via the World Bank’s Distribution Sector Restoration Programme (DISREP), positioning the nation to bridge the metering hole inside 5 years.
FG leveraging on bilateral funding to draw funding
The minister added that the federal government was leveraging bilateral funding and improvement finance to draw personal funding and increase electrical energy entry in underserved communities, faculties, hospitals, and public establishments.
“Previously two years, greater than $2 billion has been mobilised via key programmes, together with the World Bank’s DARES, NSIA’s RIPLE, and the JICA fund.
“These interventions are accelerating renewable vitality deployment and entry to dependable energy,” he mentioned.
Adelabu additionally revealed that agreements signed on the 2025 Nigerian Renewable Vitality Innovation Discussion board would add practically 4 gigawatts of photo voltaic manufacturing capability yearly, about 80 per cent of Nigeria’s present technology capability.
“With this stage of renewable vitality manufacturing, Nigeria is on observe to fulfill its home transition targets and serve regional energy markets,” he mentioned.
Adelabu mentioned the Electrical energy Act 2023 had reworked the sector by empowering states to determine subnational electrical energy markets.
“Fifteen states have obtained regulatory autonomy, with one totally operational.
“We’re guaranteeing alignment between wholesale and retail markets,” Adebayo famous.
He maintained that tariff reforms had improved provide reliability, lowered industrial vitality prices, and boosted sector income from N1 trillion in 2023 to N1.7 trillion in 2024, with projections to exceed N2 trillion by 2025.
The minister added that President Bola Tinubu had permitted a N4 trillion bond to settle verified money owed owed to technology firms and gasoline suppliers, alongside a focused subsidy plan to guard weak shoppers.
Adelabu reaffirmed the federal government’s dedication to partnering with the personal sector to unlock stranded technology capability and construct a sustainable energy future.
“By way of sustained funding, innovation, and powerful partnerships, we are able to energy Nigeria’s journey towards a brighter, extra resilient vitality future,” he mentioned.
What you must know
In mid-October, the Nigerian Electrical energy Regulatory Fee (NERC) permitted the disbursement of N28 billion to electrical energy distribution firms (DisCos) for the procurement and set up of pay as you go meters below the Meter Acquisition Fund (MAF) Tranche B scheme.
In response to Order No: NERC/2025/107 printed on the fee’s web site, the MAF gives a monetary mechanism for accelerating meter rollout to unmetered clients without charge, whereas guaranteeing a reputable income stream that helps long-term financing for DisCos.
NERC additionally reported that DisCos put in a complete of 225,631 meters within the second quarter of 2025, marking a 20.55% enhance in comparison with the 187,161 meters put in within the first quarter of the yr.
In response to NERC’s Second Quarter 2025 Report, of the overall meters put in, 147,823 items (65.52%) had been deployed below the Meter Asset Supplier (MAP) framework, 65,315 meters below the Meter Acquisition Fund (MAF) scheme, 12,259 meters via the Vendor Financed framework, and 234 meters had been put in below the DisCo Financed scheme.
Regardless of this progress, NERC famous that as of June 2025, solely 6,422,933 out of the 11,821,194 energetic registered clients within the Nigerian Electrical energy Provide Business (NESI) had been metered. This interprets to a nationwide metering charge of 54.33%, leaving practically half of electrical energy shoppers nonetheless unmetered and topic to estimated billing.
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