The Federal Government has announced plans to work with the World Bank to secure a $500 million facility aimed at salvaging Nigeria’s struggling power sector, with a focus on resetting distribution companies (DisCos) and expanding electricity access nationwide.
Speaking to journalists in Abuja, the Director-General of the Bureau of Public Enterprises (BPE), Mr. Ayodeji Ariyo Gbeleyi, explained that the facility will operate under two components: Investment Project Financing (IPF) and a Programme-for-Results scheme.
Under the IPF, he revealed that 3.2 million electricity meters will be distributed to customers across the country. Out of this figure:
- 330 meters have already been shipped,
- 160,300 meters have been delivered, and
- 160,700 meters are nearing completion.
Gbeleyi added that additional consignments are expected before the end of the year. Under Phase One of international competitive bidding, 330 shipments are scheduled to arrive between now and the middle of next year.
In addition, the national competitive bid—which prioritises local content—will see Nigerian manufacturers deliver 217,000 meters as part of the programme.
The BPE chief expressed optimism that the collaboration would not only improve electricity delivery but also strengthen the country’s metering capacity, reduce estimated billing, and restore public confidence in DisCos.
