The Federal Government has achieved a significant milestone in Nigeria’s electricity sector with the installation of 184,507 new meters and the issuance of 50 licences, permits, and certifications during the third quarter of 2024.
According to the Nigerian Electricity Regulatory Commission (NERC), this marks a 256.01% increase compared to the 51,826 meters installed in Q2 2024, demonstrating renewed efforts to tackle challenges in the power sector.
The surge in meter installations raised the net end-user metering rate in the Nigerian Electricity Supply Industry (NESI) to 46.15%, up from 45.43% in the preceding quarter. Most of these installations were carried out under the Meter Asset Provider (MAP) framework, which contributed 96.86% of the total, while the Vendor and DisCo Financed frameworks accounted for the rest.
In a related development, NERC issued 50 licences aimed at bolstering the country’s electricity infrastructure. These include six new off-grid generation licences with a combined capacity of 30.06 MW, one renewal of an on-grid generation licence, and various permits for meter asset providers and service providers. These measures are expected to enhance consumer satisfaction and attract investment in the sector.
The initiatives highlight the government’s commitment to addressing the problem of estimated billing, which has long plagued consumers. By focusing on metering and expanding off-grid energy solutions, the reforms are driving progress in underserved regions and promoting a shift towards renewable energy.
Stakeholders have lauded these developments as a turning point for Nigeria’s electricity sector. With the momentum gained in Q3, further progress is anticipated in the final quarter of 2024, paving the way for a more sustainable and inclusive power supply system.