The Minister of Power, Adebayo Adelabu, has said that the Federal Government has secured about N700bn for the rollout of 2 million meters yearly over the next five years. He recently revealed that the programme is under the Presidential Metering Initiative, and Nigerians have been reacting.
Speaking in Lagos at the 2025 Nigerian Energy Forum, with the theme “Powering Nigeria through Investment, Innovation, and Partnership,” Adelabu shared that the fund was obtained from the Federation Account Allocation Committee by the Federal Government.
According to him, the programme will help to close Nigeria’s metering gap, enhance transparency and boost the financial stability of the power sector.
He stated that the PMI complements the 3.2 million meters being procured via the World Bank’s Distribution Sector Recovery Programme (DISREP), positioning Nigeria to bridge the metering gap before 2030.
“In the past two years, more than $2 billion has been mobilised through key programmes, including the World Bank’s DARES, NSIA’s RIPLE, and the JICA fund.
These interventions are accelerating renewable energy deployment and access to reliable power,” he said.
He further noted that a new training infrastructure has been commissioned at the National Power Training Institute of Nigeria to build technical capacity in the sector.
The Minister concluded by saying that agreements signed at the 2025 Nigerian Renewable Energy Innovation Forum would add almost 4 gigawatts of solar manufacturing capacity annually, about 80 per cent of the country’s current generation capacity.
“With this level of renewable energy production, Nigeria is on track to meet its domestic transition targets and serve regional power markets.
Fifteen states have received regulatory autonomy, with one fully operational.
We’re ensuring alignment between wholesale and retail markets.
Through sustained investment, innovation, and strong partnerships, we can power Nigeria’s journey toward a brighter, more resilient energy future,” he added.
Folami David is a dynamic journalist who views the world through an analytical lens, translating complex narratives across multiple industries into compelling stories. With an insatiable appetite for information and a keen eye for emerging trends, Folami specializes in uncovering the interconnections between technology, business, culture, and society.
