The Federal Government has secured about N700 billion from the Federation Account Allocation Committee (FAAC) to deploy 1.1 million electricity meters nationwide by the end of 2025.
The Minister of Power, Adebayo Adelabu, disclosed this on Tuesday in Lagos, at the 2025 Nigerian Energy Forum (NEF), where he outlined several ongoing initiatives under the administration’s energy reform programme. He said the metering initiative is part of the Presidential Metering Initiative (PMI), which targets the rollout of two million meters annually over the next five years.
According to the minister, the PMI complements the 3.2 million meters currently being procured through the World Bank’s Distribution Sector Recovery Programme (DISREP). The effort, he added, is expected to significantly improve billing accuracy, customer satisfaction, and liquidity across the electricity value chain.
Adelabu reportedly said that the government was also leveraging bilateral funding arrangements and development finance to attract private sector investment aimed at expanding electricity access, especially in underserved communities, schools, hospitals, and public institutions across the country.
“In the past two years, more than $2 billion has been mobilised through key programmes, including the World Bank’s DARES, the NSIA’s RIPLE, and the JICA fund. These interventions are accelerating renewable energy deployment and ensuring access to a reliable power supply nationwide”, the minister said.
He further revealed that new training facilities had been commissioned at the National Power Training Institute of Nigeria (NAPTIN) to build technical capacity and support the evolving needs of the power industry workforce.
Adelabu noted that agreements signed during the 2025 Nigerian Renewable Energy Innovation Forum would add nearly four gigawatts of solar manufacturing capacity annually, representing about 80 per cent of Nigeria’s current electricity generation capacity.
“With this level of renewable energy production, Nigeria is on track to meet its domestic transition targets and also serve regional power markets”, he said, stressing the administration’s commitment to sustainable energy growth.
The minister highlighted that the Electricity Act 2023 had significantly transformed Nigeria’s energy landscape by empowering state governments to establish subnational electricity markets. “Fifteen states have received regulatory autonomy, with one already fully operational”, he disclosed, adding that efforts were underway to ensure coherence between wholesale and retail markets.
Adelabu stated that tariff reforms implemented under the current administration had improved supply reliability and reduced industrial energy costs, leading to a revenue surge in the sector from N1 trillion in 2023 to N1.7 trillion in 2024, with projections to exceed N2 trillion in 2025.
He also confirmed that President Bola Tinubu had approved a N4 trillion bond to settle verified debts owed to generation companies (GenCos) and gas suppliers, while a targeted subsidy plan would protect vulnerable households from price shocks.
Reaffirming the government’s resolve to collaborate with the private sector, Adelabu said the goal is to unlock stranded generation capacity and ensure sustainable power delivery nationwide.
“Through sustained investment, innovation, and strong partnerships, we can power Nigeria’s journey toward a brighter, more resilient energy future”, he said.
