FG Gets ₦700bn for Presidential Nationwide Meter Rollout, Says Adelabu
The Minister of Power, Adebayo Adelabu, has announced that the Federal Government has secured about ₦700 billion to implement the rollout of two million electricity meters annually for the next five years under the Presidential Metering Initiative (PMI).
Adelabu made the disclosure on Tuesday in Lagos during the 2025 Nigerian Energy Forum (NEF), themed “Powering Nigeria through Investment, Innovation, and Partnership.”
According to the minister, the funding was drawn from the Federation Account Allocation Committee (FAAC) to drive the metering scheme aimed at closing Nigeria’s long-standing metering gap, enhancing transparency in electricity billing, and strengthening the financial sustainability of the power sector.
He explained that the PMI would complement the 3.2 million meters being procured under the World Bank-supported Distribution Sector Recovery Programme (DISREP), adding that the combined initiatives are expected to close the metering deficit within five years.
Adelabu also noted that the government is leveraging bilateral funding and development finance to encourage private sector participation and extend electricity access to underserved communities, schools, hospitals, and other public facilities.
“In the last two years, over $2 billion has been mobilised through key programmes, including the World Bank’s DARES, the NSIA’s RIPLE initiative, and the JICA Fund,” he said. “These interventions are fast-tracking renewable energy deployment and providing more reliable power across the country.”
The minister further revealed that new training infrastructure has been established at the National Power Training Institute of Nigeria (NAPTIN) to build technical expertise in the energy sector. Adelabu added that agreements signed during the 2025 Nigerian Renewable Energy Innovation Forum would enable the development of almost four gigawatts (GW) of solar manufacturing capacity annually — representing about 80 percent of Nigeria’s current generation output. “With this level of renewable production, Nigeria is positioned to meet its clean energy transition goals and also contribute to regional power markets,” he said.
Speaking on regulatory reforms, Adelabu highlighted that the Electricity Act 2023 had redefined the nation’s energy landscape by granting states authority to establish subnational electricity markets.
“So far, 15 states have gained regulatory independence, and one is already fully operational,” he stated. “We are working to ensure better coordination between wholesale and retail markets.” On tariff reforms, the minister noted that improved cost-reflective pricing had enhanced supply reliability and boosted sector revenue from ₦1 trillion in 2023 to ₦1.7 trillion in 2024, with projections exceeding ₦2 trillion by 2025.
He further disclosed that President Bola Tinubu has approved a ₦4 trillion bond to clear verified debts owed to generation companies and gas suppliers, alongside a targeted subsidy plan to shield low-income consumers.
Reaffirming the government’s commitment to collaboration with private stakeholders, Adelabu said sustained investment and innovation would be crucial to achieving long-term stability in the power sector.
“Through continued partnerships and reforms, we can unlock Nigeria’s full energy potential and build a brighter, more resilient power future,” he added.
