FG Approves N21bn for Metering Initiative – NERC

• NERC approved ₦21 billion for 11 DisCos to provide meters under the Presidential Metering Initiative, starting June 2024
• The MAF scheme aims to close Nigeria’s metering gap, exceeding seven million customers, by securing long-term financing for DisCos

The Nigerian Electricity Regulatory Commission (NERC) has announced the approval of N21 billion for 11 Distribution Companies (DisCos) to provide meters for customers. This move is part of the Presidential Metering Initiative under the Meter Acquisition Fund (MAF).

According to NERC’s ORDER NO: NERC/2024/072, the initiative aims to operationalize “Tranche A” of the MAF scheme. The order, signed by NERC Chairman Mr. Sanusi Garba and Commissioner of Legal Affairs Dafe Akpeneye, will take effect from June 2024 and may be amended or revoked by future orders from the commission.

NERC stated, “The commission hereby approves the sum of N21bn apportioned pro rata to contribution by the DisCos as Tranche A of the MAF scheme. Attached to this order as Schedule 1 is a breakdown of the funds available for each DisCo to purchase end-use customer meters. All the meters to be procured and installed under the MAF framework shall be at no cost to the customers of the DisCos.”

The commission introduced the Meter Asset Provider (MAP) Regulations in 2018 and the National Mass Metering Regulations (MAP&NMMR) in 2021 to tackle metering challenges within the Nigerian Electricity Supply Industry (NESI). Despite significant progress, a national metering gap still exceeds seven million customers.

NERC identified DisCos’ inability to secure financing as a major obstacle in acquiring and deploying end-use meters. The MAF scheme was developed to address this challenge by creating a credible revenue stream to support long-term financing for utilities.

NERC further noted that the NESI is expected to leverage the revenue stream under the MAF framework to raise substantial capital funding for metering, aiming to accelerate the closure of the metering gap for all customers.