The Federal Government, through the Bureau of Public Enterprises and distribution companies, has signed a contract agreement with three Chinese firms to supply and install 1.4 million smart meters in Nigeria.
The agreement was signed with Ningbo Sanxing Medical & Electric Company Limited, Ningbo Sanxing Smart Electric Company Limited, and Messrs XJ Group Corporation for supplying and installing 1,437,500 smart meters across the country.
A statement by the Transmission Company of Nigeria on Friday said the signing ceremony took place at the BPE headquarters in Abuja.
TCN’s Managing Director/Chief Executive Officer, Sule Abdulaziz, represented by Executive Director, Transmission Service Provider Ajiboye Oluwagbenga, described the project as a significant step toward bridging the 7.1 million meter gap in Nigeria.
The statement posted on the TCN’s X handle disclosed that “the project is part of the Distribution Sector Recovery Programme funded by the World Bank’s $500 million facility through the Investment Project Finance arrangement.”
Minister of Power Adebayo Adelabu had revealed earlier that President Bola Tinubu has approved the procurement of approximately 2 million meters annually over the next five years.
The plan, he said, is to close the metering gap and eliminate estimated billing. Adelabu also announced that any customer who receives a free meter will be required to pay the cost over 10 years.
