FG to purchase 1.25 million meters courtesy N120bn W’Bank loan

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The World Bank is funding the purchase of 1.25 million metres at a cost of $155 million (or N119.74 billion at Thursday’s official exchange rate of N772.54/$), and the Federal Government on Thursday opened bids from interested parties.

The decision, according to senior government officials, was made in response to President Bola Tinubu’s order to stop power distribution corporations nationwide from billing electricity consumers on an estimated basis.

In order to achieve widespread deployment of Phase 2 of the government’s National Mass Metering Programme, the metres were to be provided to the Discos at discounted prices.

Tukur Bamalli, Assistant General Manager of the World Bank Project Implementation Unit of the Transmission Company of Nigeria, stated that the Federal Government was committed to completing the metering scheme during a speech on the sidelines of the bid opening process in Abuja.

“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.”

In response to the question of whether it was a part of the National Mass Metering Programme, Bamalli said, “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.”

Since the bids had just been filed, he said the price of the metres will be decided following the evaluation process, and he added that it would be cut to allow for mass purchasing.

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