The Federal Government of Nigeria has taken action by opening bids for the procurement of 1.25 million meters.
This ambitious initiative, financed by the World Bank to the tune of $155 million (N119.74 billion), signals a resolute commitment to President Bola Tinubu’s directive to eradicate estimated billing practices by power distribution companies nationwide.
The meters, slated for distribution to the Discos, are expected to come at reduced costs as part of Phase 2 of the National Mass Metering Programme.
The Assistant General Manager of the World Bank Project Implementation Unit in the Transmission Company of Nigeria, Tukur Bamalli, affirmed the government’s dedication to the metering scheme.
“We are procuring 1.25 million meters, funded by the World Bank, to end estimated billing. This program is Phase 2, which began in February 2021, with the loan becoming effective in February 2023,” stated Bamalli.
The bids have been received, and the contracts are anticipated to be finalized shortly.
Also, Bamalli clarified that the exact cost of the meters would be determined after the evaluation process.
The objective is to ensure that the cost is reduced significantly, facilitating mass procurement and equitable access to smart meters for consumers.
The National Mass Metering Programme, consisting of three phases (Phase 0, Phase 1, and Phase 2), is poised to transform the electricity sector in Nigeria, providing consumers with more transparent and accurate billing practices.
As the government moves forward with this initiative, it aims to provide tangible relief to electricity consumers and promote economic stability in the country.