NERC approves N30bn to meter Band A, B customers

The Nigerian Electricity Regulatory Commission (NERC) has approved N30 billion for the third phase of the Meter Acquisition Fund to accelerate the installation of electricity meters for unmetered Band A customers and expand coverage among Band B consumers. The funding is part of the Federal Government’s Presidential Metering Initiative, which aims to close the country's persistent electricity metering gap, protect consumers from estimated billing, and improve accountability in the power distribution system.

Distribution companies are required to complete all meter installations under the programme by May 31, 2027, with 70% of the contract payment released after verification of delivered meter stocks and the remaining 30% paid upon complete installation.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.