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NEWS

FG Procures 1.25million Meters with N120bn W’Bank Loan

October 6, 2023 • 2 min read

The Federal Government, on Thursday, opened the bids submitted by bidders for the procurement of 1.25 million meters financed by the World Bank to the tune of $155m (N119.74bn at Thursday’s official exchange rate of N772.54/$).

Senior government officials said the move was based on the directive of President Bola Tinubu to halt the estimated billing of electricity consumers by power distribution companies across the country.

The meters were to be distributed to the Discos at reduced costs to ensure massive deployment under Phase 2 of the National Mass Metering Programme of the government.

Speaking on the sidelines of the bid opening exercise in Abuja, the Assistant General Manager of the World Bank Project Implementation Unit in the Transmission Company of Nigeria, Tukur Bamalli, said the Federal Government was determined to conclude the metering scheme.

“We have just closed the submission of bids and the opening ceremony for the supply and installation of smart meters. We have received the bids. President Bola Tinubu decided that estimated bills should be abolished by making sure we supply meters to the 11 distribution companies.

“We are procuring 1.25 million meters, funded by the World Bank. The supply of smart meters to the distribution companies to end estimated billing is in phases. This programme is Phase 2, which started in February 2021 and the loan became effective in February 2023. So we have already received the bids and very soon the contracts will be signed.”

On whether it was part of the National Mass Metering Programme, Bamalli replied, “The NMMP is in three phases, which are Phase 0, Phase 1 and Phase 2. This is under Phase 2 of the mass metering programme.”

He said the cost of the meters would be determined after the evaluation process, since the bids had just been submitted, adding that the cost of the meters would be reduced to enable its mass purchase.