FG, Firms Secure Deal to Deploy 1.4m Smart Meters

The federal government, through the Bureau of Public Enterprises (BPE) and electricity distribution companies (DisCos), has signed a deal with several firms to supply and install 1,437,500 smart meters across Nigeria.

The firms involved in this agreement include Ningbo Sanxing Medical and Electric Company Limited, Ningbo Sanxing Smart Electric Company Limited, and Messrs XJ Group Corporation.

According to a statement released by the Transmission Company of Nigeria (TCN) on Friday, the signing ceremony took place at the BPE headquarters in Abuja. The project is part of the Distribution Sector Recovery Programme (DISREP), which is financed by a $500 million facility from the World Bank through the Investment Project Finance (IPF) arrangement.

Sule Abdulaziz, the CEO of TCN, represented by Ajiboye Oluwagbenga, the Executive Director of Transmission Service Provider, described the initiative as a critical step toward closing the 7.1 million meter deficit in Nigeria.

Additionally, on August 27, Adebayo Adelabu, the Minister of Power, announced that the federal government and state governments have raised N100 billion to fund the procurement of prepaid electricity meters. Adelabu also noted that the World Bank aims to support Nigeria by facilitating the acquisition of nearly two million meters over the next two years through the Distribution Sector Recovery Programme.