Nigeria’s Minister of Power, Mr. Adebayo Adelabu, has said that Nigerians who were supplied metres by various electricity distribution companies will repay the cost of the metre over a 10-year period.
The minister made the clarification to dispel the belief that metres supplied by electricity distribution companies were free or that monies paid by consumers would be refunded through energy credit.
Mr. Adelabu who spoke in Ibadan within the week reiterated the commitment of the federal government to ensure that consumption of electricity in Nigeria is properly metred. He revealed that the federal government would for now fund the meter procurement through different initiatives while the customers pay back over time
He said:
“We can get funding for this meter and allow the customers to pay over time.
“When the government starts procuring meters, we’ll give it to the customers, and we’ll deduct the money over 10 years. In which case, you will not even feel it at all.”
“Probably, if you buy a credit of N5,000, maybe N100 will go into the meter that we have given you. So, that’s what we are trying to do. We bring these meters in and reduce the gap that we have in the meters.”
Detailing the action plans of the federal government in tackling the shortage of metre in Nigeria, the minister revealed that the government was partnering with development organisations including the World Bank to raise N100 billion to acquire metres and ensure that Nigerian electricity consumers get billed for their consumption.
He explained, “Mr. President has set up what we call the Presidential Meter Initiative and set up a Presidential Meeting Council to address this issue. He made me the chairman of this council. The SA on Energy to Mr. President is the secretary of the council. The mandate we have was to procure and install a minimum of 2 million meters on a yearly basis over the next five years.
“In the PMI, we have made good progress in sourcing the fund for this, and it is going to be by a combination of the federal and state governments. Today, we have received, and seen about N100bn fund that will go into the procurement of meters.”
According to Adelabu, the World Bank will support Nigeria with the procurement of almost two million meters in the next two years through the distribution sector recovery programme at the cost of $200 million, a part of the $500 million DISREP fund the country has gotten from the World Bank.