The Federal Government said it is releasing ₦20 billion to provide electricity meters for Band A customers before the end of September 2024.
Adebayo Adelabu, the minister of power, disclosed this on Friday at the BusinessDay Conference in Lagos.
“We are releasing ₦20 billion for the electricity distribution companies to procure meters for the unmetered Band A customers before the end of September,” he stated.
“The government has put in place the required framework to enable an injection of 1.5 million meters into the power sector through the World Bank Distribution Support Recovery Program.
“The Presidential Metering Initiative will ensure an additional 2 million meters will be procured annually for 5 years. This will ensure accurate billing, reducing revenue loss and improving cash flow for a more liquid power sector.”
According to latest data from the Nigerian Electricity Regulatory Commission, NERC, electricity customers in Nigeria without meters stood at 7,319,846 million which is 55.61 per cent of a total of 13,162,572 power consumers.
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