Nigeria releases 30 billion naira for electricity meters
By the AFREEQUE newsroom, based on Daily Trust
Illustrative image · Robert So · Pexels · Licence PexelsThe Nigerian Electricity Regulatory Commission (NERC) has approved the disbursement of 30 billion naira to the eleven distribution companies to fund free meters, as part of the third tranche of the Meter Acquisition Fund. The allocation targets unmetered Band A and B customers, after 21 billion and 28 billion naira were already allocated in the first two tranches, according to Daily Trust.
The Nigerian Electricity Regulatory Commission, NERC, has approved the disbursement of 30 billion naira to the country’s 11 electricity distribution companies for the purchase and installation of meters. The allocation is part of the third tranche of the Meter Acquisition Fund, a financing mechanism for the deployment of meters, according to NERC Order NERC/2026/121 published by the commission on Monday.
The funding is intended to equip remaining unmetered Band A customers free of charge and accelerate installations for Band B consumers. NERC had previously approved 21 billion naira for the first tranche and 28 billion for the second, with the funds distributed among the 11 distributors according to their contributions to the mechanism.
The federal government had approved a total of 1.116 trillion naira for the purchase of prepaid meters to be distributed free of charge. According to Daily Trust, 8,045,565 of the 12,747,789 customers recorded had been equipped with a meter, leaving 4,704,224 customers without one.
Since 2024, sector financing mechanisms have included the Distribution Sector Recovery Program, with $250 million for 3.2 million meters, the Meter Acquisition Fund with 79 billion naira and the Presidential Metering Initiative with 700 billion naira. The latter is due to start next year, while its funds have already been released, Daily Trust reports.
