New Metering drives hopes and scepticism as NERC announces a ₦28 billion bailout.
Specifically, the funds will supply free meters to customers in tariff Bands A and B.
Moreover, the initiative forms part of the Presidential Metering Initiative, which aims to reach seven million unmetered households.
New Metering Drives Hope
However, many Nigerians recall nearly ₦1.5 trillion already spent on similar programmes, feeling déjà vu.
According to NERC data, only 6.4 million of 11.8 million customers currently have electricity meters.
Consequently, about 5.3 million households still receive bills based on estimates rather than actual electricity usage.
Distribution And Funding
The ₦28 billion Meter Acquisition Fund will allocate money to DisCos based on customer base and technical needs.
Among the largest beneficiaries, Ikeja Electric, Eko, Ibadan, and Abuja DisCos will receive billions to install meters.
In addition, NERC describes the bailout as “a decisive measure to eliminate estimated billing nationwide.”
Nevertheless, scepticism persists across the industry and among consumers, who remain weary from past failures.
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Previously, the National Mass Metering Programme collapsed amid corruption, poor oversight, and mismanagement of funds.
As a result, many meters never reached customers, and officials failed to account for billions of naira.
Meanwhile, the Meter Asset Provider scheme allowed consumers to pay upfront, but companies have delayed refunds.
Similarly, international efforts, like the World Bank’s $500 million recovery programme, have stalled due to disputes.
Challenges And Outlook
Overall, the government has spent over ₦1.5 trillion, yet seven million customers still lack electricity meters.
Analysts warn that accurate meters remain essential for pricing, investment, and accountability in the sector.
Therefore, consumers remain frustrated, uncertain whether the latest tranche will finally resolve the persistent problem.
